Standard BioTools (NASDAQ:LAB) Director Buys $47,250.00 in Stock

Key Points

• Director Thomas Carey bought 75,000 shares at an average $0.63 each, investing $47,250 and increasing his stake by 21.77% to 419,456 shares.
• Standard BioTools reported quarterly EPS of $0.03, beating the consensus estimate of a $0.02 loss; revenue of $19.39 million also topped expectations of $18.80 million.
• The stock traded at $0.62, near its 52-week low of $0.59, and analysts’ consensus rating was “Reduce.”

Standard BioTools Inc. (NASDAQ:LAB - Get Free Report) Director Thomas Carey acquired 75,000 shares of the company's stock in a transaction that occurred on Thursday, November 5th. The stock was bought at an average cost of $0.63 per share, with a total value of $47,250.00. Following the purchase, the director owned 419,456 shares in the company, valued at $264,257.28. The trade was a 21.77% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Standard BioTools Trading Up 0.8%

NASDAQ:LAB traded up $0.01 during mid-day trading on Thursday, hitting $0.62. 918,929 shares of the company's stock were exchanged, compared to its average volume of 2,281,671. The company has a 50 day simple moving average of $0.68 and a 200-day simple moving average of $0.91. Standard BioTools Inc. has a fifty-two week low of $0.59 and a fifty-two week high of $1.72. The firm has a market capitalization of $245.11 million, a P/E ratio of 2.82 and a beta of 1.52.

Standard BioTools (NASDAQ:LAB - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.05. The firm had revenue of $19.39 million for the quarter, compared to the consensus estimate of $18.80 million. Standard BioTools had a net margin of 100.36% and a negative return on equity of 7.57%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Standard BioTools in the second quarter valued at approximately $6,791,000. Sone Capital Management LLC purchased a new position in Standard BioTools during the second quarter valued at approximately $1,755,000. GSA Capital Partners LLP bought a new stake in Standard BioTools during the 2nd quarter worth approximately $977,000. Man Group plc bought a new stake in Standard BioTools during the 2nd quarter worth approximately $611,000. Finally, Staley Capital Advisers Inc. purchased a new stake in Standard BioTools in the 1st quarter worth approximately $581,000. 53.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Standard BioTools from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce".

About Standard BioTools

Standard BioTools Inc NASDAQ: LAB develops and supplies technologies, instruments and consumables used by researchers and biopharmaceutical companies to analyze biological systems. Its portfolio supports applications in proteomics, genomics, single-cell analysis, mass cytometry and spatial biology.

The company's offerings include the SomaScan protein profiling platform, which measures large numbers of proteins from biological samples, as well as CyTOF mass cytometry systems for high-dimensional single-cell analysis.

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