Standard BioTools (NASDAQ:LAB) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Standard BioTools (NASDAQ:LAB) issued its quarterly earnings results on Tuesday. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05, FiscalAI reports. The business had revenue of $19.39 million for the quarter, compared to the consensus estimate of $18.80 million. Standard BioTools had a negative return on equity of 7.57% and a net margin of 100.36%.

Standard BioTools Price Performance

Standard BioTools stock traded up $0.00 during trading hours on Tuesday, hitting $0.61. The company had a trading volume of 1,265,622 shares, compared to its average volume of 2,294,128. The firm has a market capitalization of $241.09 million, a P/E ratio of 2.78 and a beta of 1.36. The firm’s fifty day moving average is $0.68 and its 200-day moving average is $0.92. Standard BioTools has a fifty-two week low of $0.59 and a fifty-two week high of $1.72.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Standard BioTools from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, August 7th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $1.35.

About Standard BioTools

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.