BlackRock Inc. Makes New $6.79 Million Investment in Standard BioTools Inc. $LAB

Key Points

• BlackRock acquired 8.25 million shares of Standard BioTools during the second quarter, worth approximately $6.79 million and representing about 2.11% of the company. Institutional investors collectively own 53.74% of LAB.
• Analyst sentiment remains cautious: Standard BioTools has a consensus rating of “Reduce”, with an average price target of $1.35; Weiss Ratings separately downgraded the stock to “sell.”
• The company reported a quarterly loss of $0.07 per share, missing estimates by $0.06, while revenue of $20.1 million was below the $20.8 million consensus estimate. LAB opened at $0.69, near its 52-week low of $0.63.

BlackRock Inc. acquired a new position in shares of Standard BioTools Inc. (NASDAQ:LAB - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,254,443 shares of the company's stock, valued at approximately $6,791,000. BlackRock Inc. owned approximately 2.11% of Standard BioTools at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Staley Capital Advisers Inc. bought a new stake in shares of Standard BioTools in the 1st quarter worth approximately $581,000. Casdin Capital LLC increased its position in Standard BioTools by 14.5% in the fourth quarter. Casdin Capital LLC now owns 88,783,856 shares of the company's stock worth $113,643,000 after buying an additional 11,225,000 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Standard BioTools in the second quarter valued at $977,000. Rockefeller Capital Management L.P. lifted its position in shares of Standard BioTools by 34.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 444,144 shares of the company's stock valued at $569,000 after buying an additional 112,920 shares during the last quarter. Finally, Johnson & Johnson purchased a new position in shares of Standard BioTools during the 2nd quarter valued at $256,655. 53.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Standard BioTools from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Standard BioTools currently has a consensus rating of "Reduce" and an average price target of $1.35.

Standard BioTools Price Performance

LAB stock opened at $0.69 on Friday. The company has a market capitalization of $269.11 million, a P/E ratio of 3.12 and a beta of 1.37. Standard BioTools Inc. has a 1-year low of $0.63 and a 1-year high of $1.72. The business has a 50-day moving average price of $0.79 and a 200 day moving average price of $0.91.

Standard BioTools (NASDAQ:LAB - Get Free Report) last posted its quarterly earnings data 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 negative return on equity of 7.57% and a net margin of 100.36%.The business had revenue of $20.10 million during the quarter, compared to analyst estimates of $20.80 million.

Standard BioTools 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.

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