Man Group plc Invests $611,000 in Standard BioTools Inc. $LAB

Man Group plc bought a new stake in shares of Standard BioTools Inc. (NASDAQ:LAB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 742,793 shares of the company’s stock, valued at approximately $611,000. Man Group plc owned approximately 0.19% of Standard BioTools as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LAB. Cibc World Markets Corp bought a new position in shares of Standard BioTools during the 4th quarter valued at about $25,000. Aigen Investment Management LP bought a new position in Standard BioTools during the fourth quarter valued at $28,000. M&T Bank Corp purchased a new stake in shares of Standard BioTools in the fourth quarter valued at $31,000. EntryPoint Capital LLC bought a new stake in shares of Standard BioTools in the 4th quarter worth about $31,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Standard BioTools by 2,989.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 25,021 shares of the company’s stock worth $33,000 after acquiring an additional 24,211 shares during the last quarter. 53.74% of the stock is currently owned by institutional investors.

Standard BioTools Stock Performance

Shares of LAB opened at $0.67 on Friday. The stock has a market capitalization of $264.56 million, a PE ratio of 3.06 and a beta of 1.37. The company has a 50 day moving average price of $0.79 and a 200-day moving average price of $0.91. Standard BioTools Inc. has a fifty-two week low of $0.63 and a fifty-two week high of $1.72.

Standard BioTools (NASDAQ:LAB) last released 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). Standard BioTools had a net margin of 100.36% and a negative return on equity of 7.57%. The firm had revenue of $20.10 million during the quarter, compared to the consensus estimate of $20.80 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Standard BioTools from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $1.35.

Standard BioTools Company Profile

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.