Standard BioTools (NASDAQ:LAB) Director Thomas Carey Purchases 75,000 Shares of Stock

Standard BioTools Inc. (NASDAQ:LAB) Director Thomas Carey purchased 75,000 shares of Standard BioTools stock in a transaction that occurred on Thursday, November 5th. The stock was purchased at an average cost of $0.63 per share, for a total transaction of $47,250.00. Following the completion of the purchase, the director owned 419,456 shares of the company’s stock, valued at $264,257.28. This trade represents a 21.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Standard BioTools Price Performance

Shares of Standard BioTools stock opened at $0.62 on Friday. Standard BioTools Inc. has a 1 year low of $0.59 and a 1 year high of $1.72. The company has a 50-day moving average of $0.68 and a 200 day moving average of $0.90. The firm has a market cap of $245.12 million, a price-to-earnings ratio of 2.82 and a beta of 1.52.

Standard BioTools (NASDAQ:LAB) last released its earnings results on Tuesday, November 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.05. The firm had revenue of $19.39 million during the quarter, compared to analyst estimates of $18.80 million. Standard BioTools had a net margin of 157.62% and a negative return on equity of 5.61%.

Institutional Trading of Standard BioTools

Several institutional investors and hedge funds have recently modified their holdings of the company. Rangeley Capital LLC purchased a new position in Standard BioTools in the 1st quarter worth approximately $46,000. Public Employees Retirement System of Ohio purchased a new stake in Standard BioTools during the second quarter valued at $42,000. Engineers Gate Manager LP bought a new position in Standard BioTools during the second quarter valued at $56,000. State of Wyoming purchased a new position in shares of Standard BioTools in the 2nd quarter worth $62,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Standard BioTools in the 2nd quarter worth about $74,000. 53.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Standard BioTools in a research report on Wednesday. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce”.

Standard BioTools Company Profile

Standard BioTools Inc (NASDAQ: LAB) develops and supplies technologies, instruments and consumables used by researchers and biopharmaceutical companies to analyze biological systems. Its portfolio supports applications in proteomics, genomics, single-cell analysis, mass cytometry and spatial biology.

The company’s offerings include the SomaScan protein profiling platform, which measures large numbers of proteins from biological samples, as well as CyTOF mass cytometry systems for high-dimensional single-cell analysis.