Standard BioTools (NASDAQ:LAB) Coverage Initiated by Analysts at TD Cowen

TD Cowen started coverage on shares of Standard BioTools (NASDAQ:LAB) in a report issued on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $3.50 price target on the stock. TD Cowen’s price objective would suggest a potential upside of 34.10% from the stock’s current price.

Separately, Jefferies Financial Group started coverage on Standard BioTools in a report on Thursday, April 4th. They issued a “buy” rating and a $3.25 target price on the stock.

Standard BioTools Stock Performance

Shares of LAB stock opened at $2.61 on Tuesday. The stock’s fifty day moving average price is $2.60 and its two-hundred day moving average price is $2.32. The company has a market cap of $757.21 million, a PE ratio of -2.75 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.

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

Insider Activity at Standard BioTools

In other news, Director Casdin Partners Master Fund, L acquired 250,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average price of $2.57 per share, with a total value of $642,500.00. Following the acquisition, the director now directly owns 11,496,525 shares in the company, valued at approximately $29,546,069.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 53.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Standard BioTools

Several hedge funds have recently modified their holdings of the company. Neuberger Berman Group LLC acquired a new stake in shares of Standard BioTools during the 3rd quarter valued at $4,812,000. Vanguard Group Inc. raised its position in Standard BioTools by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 4,133,939 shares of the company’s stock worth $9,136,000 after purchasing an additional 159,413 shares during the last quarter. Morgan Stanley raised its position in Standard BioTools by 5.9% during the 4th quarter. Morgan Stanley now owns 3,055,000 shares of the company’s stock worth $3,574,000 after purchasing an additional 169,987 shares during the last quarter. BlackRock Inc. bought a new position in Standard BioTools during the 3rd quarter worth $2,184,000. Finally, Hollow Brook Wealth Management LLC raised its position in Standard BioTools by 5.0% during the 4th quarter. Hollow Brook Wealth Management LLC now owns 1,874,405 shares of the company’s stock worth $4,142,000 after purchasing an additional 88,648 shares during the last quarter. Institutional investors and hedge funds 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.