Standard BioTools Inc. $LAB Stake Boosted by Casdin Capital LLC

Key Points

• Casdin Capital raised its stake by 1.9% in Q3 to 77,558,856 shares, owning 20.17% of Standard BioTools and making LAB its fourth-largest position (8.4% of Casdin's portfolio).
• Wall Street sentiment is negative: the consensus rating is "Reduce" with a consensus target price of $1.35, based on two Holds and one Sell.
• LAB trades at $0.93 with a market cap of $358.65M; the company beat last quarter's EPS and revenue but remains unprofitable (negative net margin of 59.39%) and is forecast to post about -0.29 EPS for the fiscal year.

Casdin Capital LLC raised its stake in Standard BioTools Inc. (NASDAQ:LAB - Free Report) by 1.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 77,558,856 shares of the company's stock after purchasing an additional 1,483,220 shares during the quarter. Standard BioTools accounts for 8.4% of Casdin Capital LLC's portfolio, making the stock its 4th biggest position. Casdin Capital LLC owned 20.17% of Standard BioTools worth $100,827,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Kent Lake PR LLC purchased a new position in shares of Standard BioTools in the second quarter worth $1,200,000. AQR Capital Management LLC raised its holdings in Standard BioTools by 862.2% during the 1st quarter. AQR Capital Management LLC now owns 482,912 shares of the company's stock valued at $522,000 after buying an additional 432,725 shares during the last quarter. Vanguard Group Inc. boosted its position in Standard BioTools by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 17,245,583 shares of the company's stock valued at $22,419,000 after buying an additional 263,845 shares during the period. Geode Capital Management LLC boosted its position in Standard BioTools by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 7,441,134 shares of the company's stock valued at $8,931,000 after buying an additional 235,677 shares during the period. Finally, Royce & Associates LP grew its holdings in Standard BioTools by 6.4% in the 3rd quarter. Royce & Associates LP now owns 2,804,719 shares of the company's stock worth $3,646,000 after acquiring an additional 167,598 shares during the last quarter. Institutional investors own 53.74% of the company's stock.

Wall Street Analyst Weigh In

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

Standard BioTools Stock Up 0.2%

NASDAQ:LAB opened at $0.93 on Friday. The stock has a market cap of $358.65 million, a P/E ratio of -4.66 and a beta of 1.36. The firm's fifty day simple moving average is $1.28 and its 200 day simple moving average is $1.32. Standard BioTools Inc. has a twelve month low of $0.92 and a twelve month high of $1.72.

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

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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