Short Interest in Standard BioTools Inc. (NASDAQ:LAB) Grows By 10.5%

Standard BioTools Inc. (NASDAQ:LAB - Get Free Report) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 10,230,000 shares, a growth of 10.5% from the March 15th total of 9,260,000 shares. Based on an average daily volume of 2,170,000 shares, the short-interest ratio is currently 4.7 days. Approximately 2.7% of the shares of the stock are sold short.

Standard BioTools Trading Down 0.7 %

Shares of NASDAQ:LAB traded down $0.02 on Monday, reaching $2.77. 2,170,470 shares of the company traded hands, compared to its average volume of 2,139,133. The business's 50-day simple moving average is $2.59 and its 200 day simple moving average is $2.32. Standard BioTools has a 52 week low of $1.46 and a 52 week high of $3.16. The stock has a market capitalization of $803.63 million, a P/E ratio of -2.92 and a beta of 1.64.

Standard BioTools (NASDAQ:LAB - Get Free Report) last posted its earnings results on Wednesday, February 28th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.05. The business had revenue of $28.19 million during the quarter, compared to the consensus estimate of $28.00 million. Sell-side analysts expect that Standard BioTools will post -0.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group began coverage on Standard BioTools in a research note on Thursday, April 4th. They set a "buy" rating and a $3.25 price objective on the stock.

Insider Buying and Selling at Standard BioTools

In other news, Director Casdin Partners Master Fund, L purchased 250,000 shares of the stock in a transaction on Monday, March 4th. The shares were acquired at an average price of $2.57 per share, for a total transaction of $642,500.00. Following the completion of the transaction, the director now directly owns 11,496,525 shares of the company's stock, valued at approximately $29,546,069.25. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 53.10% of the company's stock.

Institutional Trading of Standard BioTools

Several large investors have recently modified their holdings of the business. Schoolcraft Capital LLC bought a new stake in shares of Standard BioTools in the first quarter worth about $201,000. HBK Investments L P purchased a new stake in Standard BioTools in the fourth quarter worth about $333,000. Vanguard Group Inc. lifted its holdings in Standard BioTools by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 4,133,939 shares of the company's stock worth $9,136,000 after buying an additional 159,413 shares during the period. Goldman Sachs Group Inc. purchased a new stake in Standard BioTools in the fourth quarter worth about $295,000. Finally, Barclays PLC lifted its holdings in Standard BioTools by 239.0% in the fourth quarter. Barclays PLC now owns 163,392 shares of the company's stock worth $361,000 after buying an additional 115,198 shares during the period. 53.74% of the stock is owned by institutional investors.

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.