Standard BioTools (NASDAQ:LAB) Receives New Coverage from Analysts at TD Cowen

TD Cowen initiated coverage on shares of Standard BioTools (NASDAQ:LAB - Free Report) in a report issued on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $3.50 target price on the stock.

Separately, Jefferies Financial Group began coverage on Standard BioTools in a research note on Thursday, April 4th. They issued a buy rating and a $3.25 target price for the company.

Standard BioTools Stock Performance

Shares of NASDAQ:LAB traded down $0.06 on Tuesday, hitting $2.71. 2,672,326 shares of the company were exchanged, compared to its average volume of 2,146,436. The company's 50 day moving average price is $2.59 and its two-hundred day moving average price is $2.32. The firm has a market capitalization of $786.23 million, a price-to-earnings ratio of -2.85 and a beta of 1.64. Standard BioTools has a one year low of $1.46 and a one year high of $3.16.

Standard BioTools (NASDAQ:LAB - Get Free Report) last released its earnings results on Wednesday, February 28th. The company reported ($0.12) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.05. The firm had revenue of $28.19 million for the quarter, compared to analyst estimates of $28.00 million. Research analysts predict that Standard BioTools will post -0.47 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Casdin Partners Master Fund, L bought 250,000 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was acquired at an average price of $2.57 per share, for a total transaction of $642,500.00. Following the transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 53.10% of the company's stock.

Institutional Investors Weigh In On Standard BioTools

Institutional investors and hedge funds have recently made changes to their positions in the company. SMH Capital Advisors Inc. bought a new position in Standard BioTools during the 4th quarter valued at about $26,000. Jane Street Group LLC bought a new position in shares of Standard BioTools in the third quarter valued at approximately $28,000. Marshall Wace LLP acquired a new position in shares of Standard BioTools in the 2nd quarter worth approximately $31,000. Walleye Capital LLC acquired a new position in shares of Standard BioTools in the 2nd quarter worth approximately $40,000. Finally, Acadian Asset Management LLC bought a new stake in Standard BioTools during the 3rd quarter worth approximately $50,000. Institutional investors and hedge funds own 53.74% of the company's stock.

Standard BioTools Company Profile

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.