Standard BioTools (NASDAQ:LAB) Issues Quarterly Earnings Results

Standard BioTools (NASDAQ:LAB) posted its quarterly earnings results on Wednesday. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.06), FiscalAI reports. Standard BioTools had a negative return on equity of 7.89% and a net margin of 100.36%.The business had revenue of $20.10 million during the quarter, compared to the consensus estimate of $20.80 million.

Standard BioTools Trading Down 0.0%

Shares of LAB stock traded down $0.00 during mid-day trading on Friday, reaching $0.80. The stock had a trading volume of 728,946 shares, compared to its average volume of 2,730,573. The firm has a market capitalization of $312.30 million, a PE ratio of 3.64 and a beta of 1.40. The stock’s 50-day moving average price is $0.88 and its two-hundred day moving average price is $1.01. Standard BioTools has a 52-week low of $0.70 and a 52-week high of $1.72.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Standard BioTools from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, July 21st. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $1.35.

Institutional Trading of Standard BioTools

Several large investors have recently modified their holdings of LAB. Cibc World Markets Corp bought a new position in Standard BioTools during the 4th quarter valued at approximately $25,000. Aigen Investment Management LP purchased a new position in shares of Standard BioTools during the fourth quarter valued at approximately $28,000. EntryPoint Capital LLC purchased a new position in shares of Standard BioTools during the fourth quarter valued at approximately $31,000. Russell Investments Group Ltd. raised its holdings in shares of Standard BioTools by 2,989.0% during the third quarter. Russell Investments Group Ltd. now owns 25,021 shares of the company’s stock valued at $33,000 after acquiring an additional 24,211 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new position in shares of Standard BioTools during the fourth quarter valued at approximately $33,000. 53.74% of the stock is owned by institutional investors.

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.