Standard BioTools (NASDAQ:LAB) Sees Large Volume Increase

Shares of Standard BioTools Inc. (NASDAQ:LAB) saw unusually-strong trading volume on Wednesday . Approximately 2,012,831 shares were traded during mid-day trading, a decline of 6% from the previous session’s volume of 2,141,355 shares.The stock last traded at $2.61 and had previously closed at $2.71.

Analysts Set New Price Targets

Several analysts recently weighed in on LAB shares. Jefferies Financial Group started coverage on Standard BioTools in a research note on Thursday, April 4th. They issued a “buy” rating and a $3.25 price target on the stock. TD Cowen started coverage on Standard BioTools in a research note on Tuesday. They issued a “buy” rating and a $3.50 price target on the stock.

Standard BioTools Price Performance

The company has a market cap of $774.62 million, a PE ratio of -2.81 and a beta of 1.64. The company has a 50-day moving average of $2.59 and a 200 day moving average of $2.32.

Standard BioTools (NASDAQ:LAB) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.05. The firm had revenue of $28.19 million during the quarter, compared to analysts’ expectations of $28.00 million. Equities research analysts expect that Standard BioTools Inc. will post -0.47 EPS for the current year.

Insider Activity

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

Institutional Trading of Standard BioTools

Several hedge funds and other institutional investors have recently bought and sold shares of LAB. Schoolcraft Capital LLC purchased a new position in shares of Standard BioTools in the first quarter valued at approximately $201,000. HBK Investments L P purchased a new position in shares of Standard BioTools in the fourth quarter valued at approximately $333,000. Vanguard Group Inc. lifted its position in shares of Standard BioTools by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 4,133,939 shares of the company’s stock valued at $9,136,000 after acquiring an additional 159,413 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in Standard BioTools during the fourth quarter worth approximately $295,000. Finally, Barclays PLC lifted its position in Standard BioTools by 239.0% during the fourth quarter. Barclays PLC now owns 163,392 shares of the company’s stock worth $361,000 after buying an additional 115,198 shares in the last quarter. 53.74% of the stock is 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.