Standard BioTools (NASDAQ:LAB) Stock Price Up 4.1% After Insider Buying Activity

Standard BioTools Inc. (NASDAQ:LAB) shares traded up 4.1% on Thursday after an insider bought additional shares in the company. The company traded as high as $2.02 and last traded at $2.02. 226,694 shares were traded during mid-day trading, a decline of 92% from the average session volume of 2,692,094 shares. The stock had previously closed at $1.94.

Specifically, Director Casdin Partners Master Fund, L bought 500,000 shares of the stock in a transaction dated Wednesday, August 21st. The stock was purchased at an average cost of $1.90 per share, with a total value of $950,000.00. Following the completion of the purchase, the director now owns 53,025,821 shares of the company’s stock, valued at $100,749,059.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Casdin Partners Master Fund, L bought 250,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was bought at an average price of $1.85 per share, for a total transaction of $462,500.00. Following the completion of the purchase, the director now directly owns 52,025,821 shares in the company, valued at $96,247,768.85. The disclosure for this purchase can be found here. In related news, Director Casdin Partners Master Fund, L purchased 1,200,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average price of $1.59 per share, with a total value of $1,908,000.00. Following the completion of the purchase, the director now owns 51,775,821 shares of the company’s stock, valued at approximately $82,323,555.39. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

Separately, TD Cowen reduced their price objective on Standard BioTools from $3.50 to $2.75 and set a “buy” rating on the stock in a report on Thursday, August 1st.

Standard BioTools Price Performance

The firm has a fifty day moving average of $1.92 and a two-hundred day moving average of $2.32. The stock has a market capitalization of $722.32 million, a P/E ratio of -1.93 and a beta of 1.67.

Standard BioTools (NASDAQ:LAB) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. Standard BioTools had a negative net margin of 87.05% and a negative return on equity of 88.47%. The business had revenue of $37.21 million during the quarter, compared to analyst estimates of $48.15 million. As a group, sell-side analysts forecast that Standard BioTools Inc. will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Standard BioTools

Large investors have recently bought and sold shares of the business. Freestone Capital Holdings LLC bought a new position in Standard BioTools in the first quarter worth about $31,000. Evolution Wealth Advisors LLC purchased a new position in shares of Standard BioTools in the 1st quarter worth approximately $33,000. Shell Asset Management Co. purchased a new position in shares of Standard BioTools in the 1st quarter worth approximately $39,000. Peak Asset Management LLC bought a new position in shares of Standard BioTools during the 1st quarter worth approximately $46,000. Finally, BNP Paribas Financial Markets lifted its position in Standard BioTools by 1,775,900.0% during the first quarter. BNP Paribas Financial Markets now owns 17,760 shares of the company’s stock valued at $48,000 after acquiring an additional 17,759 shares during the last quarter. Institutional investors own 53.74% of the company’s stock.

Standard BioTools Company Profile

Standard BioTools Inc, together with its subsidiaries, provides instruments, consumables, reagents, and software services for researchers and clinical laboratories in the Americas, Europe, the Middle East, Africa, and the Asia pacific. It operates through two segments: Proteomics and Genomics. The company offers analytical systems, such as CyTOF XT System, a CyTOF XT mass cytometry system performs automated high-parameter single-cell analysis using antibodies conjugated to metal isotopes; and Hyperion XTi imaging system, a spatial biology instrument.