Standard BioTools (NASDAQ:LAB) Stock Price Up 8.5%

Standard BioTools Inc. (NASDAQ:LAB - Get Free Report)'s stock price rose 8.5% during trading on Thursday . The company traded as high as $2.46 and last traded at $2.43. Approximately 434,720 shares were traded during trading, a decline of 80% from the average daily volume of 2,208,882 shares. The stock had previously closed at $2.24.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LAB. TD Cowen began coverage on Standard BioTools in a report on Tuesday, April 16th. They issued a "buy" rating and a $3.50 price target for the company. Jefferies Financial Group assumed coverage on Standard BioTools in a research report on Thursday, April 4th. They set a "buy" rating and a $3.25 price target on the stock.

Standard BioTools Price Performance

The business has a fifty day simple moving average of $2.61 and a two-hundred day simple moving average of $2.37. The company has a market cap of $699.18 million, a PE ratio of -2.59 and a beta of 1.64.

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

Insider Buying and Selling

In related news, Director Casdin Partners Master Fund, L acquired 250,000 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was acquired at an average price of $2.57 per share, with a total value of $642,500.00. Following the acquisition, the director now directly owns 11,496,525 shares in the company, valued at approximately $29,546,069.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 53.10% of the stock is owned by corporate insiders.

Institutional Trading of Standard BioTools

Several institutional investors have recently bought and sold shares of the business. Evolution Wealth Advisors LLC purchased a new position in shares of Standard BioTools during the 1st quarter worth $33,000. BNP Paribas Financial Markets raised its stake in Standard BioTools by 1,775,900.0% during the first quarter. BNP Paribas Financial Markets now owns 17,760 shares of the company's stock worth $48,000 after purchasing an additional 17,759 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Standard BioTools in the 3rd quarter valued at approximately $50,000. Cannon Global Investment Management LLC purchased a new stake in shares of Standard BioTools during the 1st quarter valued at approximately $54,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Standard BioTools in the fourth quarter valued at approximately $55,000. 53.74% of the stock is owned by institutional investors and hedge funds.

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.