Standard BioTools Inc. (NASDAQ:LAB) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its holdings in shares of Standard BioTools Inc. (NASDAQ:LAB - Free Report) by 783.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 578,439 shares of the company's stock after purchasing an additional 512,937 shares during the period. Assenagon Asset Management S.A. owned approximately 0.20% of Standard BioTools worth $1,568,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Evolution Wealth Advisors LLC acquired a new position in Standard BioTools during the first quarter worth about $33,000. Acadian Asset Management LLC acquired a new position in shares of Standard BioTools in the 3rd quarter valued at $50,000. Cannon Global Investment Management LLC acquired a new position in shares of Standard BioTools in the 1st quarter valued at $54,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Standard BioTools in the 4th quarter valued at $55,000. Finally, Jump Financial LLC acquired a new position in shares of Standard BioTools in the 3rd quarter valued at $94,000. 53.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Standard BioTools Price Performance

Shares of LAB stock traded up $0.01 during trading on Monday, reaching $2.58. The company had a trading volume of 2,033,958 shares, compared to its average volume of 2,295,609. The firm's 50 day simple moving average is $2.60 and its two-hundred day simple moving average is $2.40. Standard BioTools Inc. has a one year low of $1.57 and a one year high of $3.16. The company has a market capitalization of $748.51 million, a PE ratio of -2.55 and a beta of 1.64.

Standard BioTools (NASDAQ:LAB - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.05. The business had revenue of $28.19 million for the quarter, compared to analysts' expectations of $28.00 million. Standard BioTools had a negative return on equity of 144.74% and a negative net margin of 70.98%. Analysts forecast that Standard BioTools Inc. will post -0.47 earnings per share for the current year.

Insider Activity at Standard BioTools

In other news, Director Casdin Partners Master Fund, L bought 500,000 shares of the company's stock in a transaction dated Wednesday, May 15th. The stock was bought at an average price of $2.57 per share, for a total transaction of $1,285,000.00. Following the completion of the transaction, the director now directly owns 44,523,749 shares in the company, valued at approximately $114,426,034.93. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased a total of 1,102,072 shares of company stock valued at $2,828,804 in the last 90 days. 53.10% of the stock is owned by corporate insiders.

About Standard BioTools

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.

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