Short Interest in Standard BioTools Inc. (NASDAQ:LAB) Increases By 10.5%

Standard BioTools Inc. (NASDAQ:LAB) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 10,230,000 shares, a growth of 10.5% from the March 15th total of 9,260,000 shares. Based on an average daily trading volume, of 2,170,000 shares, the days-to-cover ratio is presently 4.7 days. Approximately 2.7% of the company’s stock are short sold.

Standard BioTools Price Performance

Shares of NASDAQ LAB opened at $2.71 on Wednesday. The stock has a market capitalization of $786.23 million, a PE ratio of -2.85 and a beta of 1.64. Standard BioTools has a fifty-two week low of $1.46 and a fifty-two week high of $3.16. The business has a fifty day moving average price of $2.59 and a two-hundred day moving average price of $2.32.

Standard BioTools (NASDAQ:LAB) last issued its earnings results on Wednesday, February 28th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.05. The firm had revenue of $28.19 million during the quarter, compared to analyst estimates of $28.00 million. On average, equities analysts expect that Standard BioTools will post -0.47 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on LAB. TD Cowen began coverage on Standard BioTools in a research report on Tuesday. They set a “buy” rating and a $3.50 price target on the stock. Jefferies Financial Group started coverage on shares of Standard BioTools in a report on Thursday, April 4th. They set a “buy” rating and a $3.25 target price on the stock.

Insider Activity

In other news, Director Casdin Partners Master Fund, L bought 250,000 shares of the stock in a transaction on Monday, March 4th. The stock was purchased at an average price of $2.57 per share, for a total transaction of $642,500.00. Following the acquisition, the director now owns 11,496,525 shares in the company, valued at $29,546,069.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 53.10% of the company’s stock.

Hedge Funds Weigh In On Standard BioTools

A number of institutional investors have recently added to or reduced their stakes in LAB. Schoolcraft Capital LLC acquired a new position in Standard BioTools in the 1st quarter worth about $201,000. HBK Investments L P acquired a new position in shares of Standard BioTools in the fourth quarter valued at approximately $333,000. Vanguard Group Inc. raised its holdings in Standard BioTools by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 4,133,939 shares of the company’s stock valued at $9,136,000 after buying an additional 159,413 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in Standard BioTools during the 4th quarter worth approximately $295,000. Finally, Barclays PLC grew its holdings in Standard BioTools by 239.0% during the 4th quarter. Barclays PLC now owns 163,392 shares of the company’s stock worth $361,000 after acquiring an additional 115,198 shares during the last quarter. 53.74% of the stock is currently owned by institutional investors and hedge funds.

About Standard BioTools

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.