Sone Capital Management LLC Acquires New Position in Standard BioTools Inc. $LAB

Sone Capital Management LLC bought a new position in Standard BioTools Inc. (NASDAQ:LAB) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,133,631 shares of the company’s stock, valued at approximately $1,755,000.

A number of other large investors have also made changes to their positions in LAB. Casdin Capital LLC lifted its position in Standard BioTools by 14.5% during the fourth quarter. Casdin Capital LLC now owns 88,783,856 shares of the company’s stock worth $113,643,000 after buying an additional 11,225,000 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Standard BioTools in the 2nd quarter worth $6,791,000. Mak Capital One LLC increased its stake in shares of Standard BioTools by 21.1% in the 4th quarter. Mak Capital One LLC now owns 19,288,158 shares of the company’s stock worth $24,689,000 after acquiring an additional 3,356,352 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Standard BioTools by 133.0% during the 4th quarter. Millennium Management LLC now owns 3,387,428 shares of the company’s stock worth $4,336,000 after acquiring an additional 1,933,853 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of Standard BioTools during the 2nd quarter valued at about $977,000. 53.74% of the stock is currently owned by hedge funds and other institutional investors.

Standard BioTools Trading Down 2.8%

Shares of LAB opened at $0.65 on Tuesday. The company’s 50-day moving average price is $0.81 and its 200 day moving average price is $0.94. Standard BioTools Inc. has a 12-month low of $0.63 and a 12-month high of $1.72. The firm has a market cap of $255.18 million, a P/E ratio of 2.95 and a beta of 1.40.

Standard BioTools (NASDAQ:LAB) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The company had revenue of $20.10 million for the quarter, compared to analyst estimates of $20.80 million. Standard BioTools had a net margin of 100.36% and a negative return on equity of 7.57%.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Standard BioTools from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, August 7th. Two 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, Standard BioTools presently has a consensus rating of “Reduce” and a consensus target price of $1.35.

About Standard BioTools

Standard BioTools, Inc (NASDAQ: LAB), formerly known as Fluidigm Corporation, is a life sciences tools company that develops and commercializes high-parameter, single-cell and spatial biology solutions. The company’s platforms integrate microfluidics, mass cytometry, sequencing and imaging to enable researchers to probe cellular heterogeneity, molecular interactions and complex tissue architecture. Its end users span academic institutions, pharmaceutical and biotechnology companies worldwide.

The company’s flagship products include mass cytometry systems—such as the Helios and Hyperion Imaging System—for multiplexed protein analysis at single-cell resolution, and the Chromium-style single-cell genomic tools for high-throughput gene expression profiling.