Standard BioTools Inc. $LAB Shares Purchased by Mak Capital One LLC

Key Points

• Mak Capital One LLC increased its stake in Standard BioTools by 184.6% in Q3, buying an additional 10,334,384 shares to hold 15,931,806 shares — about 4.14% of the company and its sixth-largest holding, valued at roughly $20.7 million at the reporting period end.
• Standard BioTools beat the quarter's estimates (EPS $0.05 vs. -$0.03 expected; revenue $23.8M vs. $18.5M expected) but remains unprofitable (net margin -59.39%, negative ROE) and carries an analyst consensus of "Reduce" with an average price target of $1.35 while shares trade near $0.96.

Mak Capital One LLC grew its position in shares of Standard BioTools Inc. (NASDAQ:LAB - Free Report) by 184.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,931,806 shares of the company's stock after purchasing an additional 10,334,384 shares during the period. Standard BioTools makes up about 3.2% of Mak Capital One LLC's holdings, making the stock its 6th largest holding. Mak Capital One LLC owned about 4.14% of Standard BioTools worth $20,711,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Intech Investment Management LLC grew its stake in shares of Standard BioTools by 6.1% in the second quarter. Intech Investment Management LLC now owns 149,018 shares of the company's stock valued at $179,000 after buying an additional 8,519 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Standard BioTools by 50.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 29,826 shares of the company's stock worth $36,000 after acquiring an additional 9,986 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Standard BioTools by 103.6% during the 3rd quarter. Federated Hermes Inc. now owns 28,545 shares of the company's stock valued at $37,000 after acquiring an additional 14,523 shares during the period. Cerity Partners LLC grew its position in Standard BioTools by 70.2% in the 2nd quarter. Cerity Partners LLC now owns 37,501 shares of the company's stock valued at $45,000 after acquiring an additional 15,470 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in Standard BioTools by 72.7% in the 2nd quarter. Prudential Financial Inc. now owns 39,307 shares of the company's stock valued at $47,000 after acquiring an additional 16,541 shares in the last quarter. 53.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LAB has been the topic of a number of recent research reports. Zacks Research raised Standard BioTools to a "hold" rating in a research report on Thursday, December 11th. Wall Street Zen cut Standard BioTools from a "hold" rating to a "sell" rating in a research note on Sunday, March 8th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Standard BioTools in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Standard BioTools currently has an average rating of "Reduce" and an average price target of $1.35.

Standard BioTools Trading Up 2.4%

Shares of NASDAQ:LAB opened at $0.96 on Tuesday. Standard BioTools Inc. has a 52 week low of $0.92 and a 52 week high of $1.72. The company's 50 day moving average is $1.27 and its two-hundred day moving average is $1.31. The company has a market cap of $367.26 million, a PE ratio of -4.77 and a beta of 1.36.

Standard BioTools (NASDAQ:LAB - Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.08. The business had revenue of $23.80 million during the quarter, compared to analysts' expectations of $18.50 million. Standard BioTools had a negative net margin of 59.39% and a negative return on equity of 11.20%. As a group, equities research analysts expect that Standard BioTools Inc. will post -0.29 EPS for the current year.

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.

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