Standard BioTools (NASDAQ:LAB) Sees Large Volume Increase

Standard BioTools Inc. (NASDAQ:LAB - Get Free Report) shares saw strong trading volume on Wednesday . 2,012,831 shares were traded during trading, a decline of 6% from the previous session's volume of 2,141,355 shares.The stock last traded at $2.61 and had previously closed at $2.71.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Standard BioTools in a research report on Thursday, April 4th. They issued a "buy" rating and a $3.25 price target for the company. TD Cowen assumed coverage on shares of Standard BioTools in a research report on Tuesday. They issued a "buy" rating and a $3.50 price target for the company.

Standard BioTools Trading Down 3.7 %

The firm has a market cap of $757.21 million, a PE ratio of -2.75 and a beta of 1.64. The stock has a fifty day simple moving average of $2.60 and a two-hundred day simple moving average of $2.32.

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 during the quarter, compared to the consensus estimate of $28.00 million. As a group, sell-side analysts predict that Standard BioTools Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Activity at Standard BioTools

In other news, Director Casdin Partners Master Fund, L purchased 250,000 shares of Standard BioTools stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average cost of $2.57 per share, with a total value of $642,500.00. Following the completion of the purchase, the director now directly owns 11,496,525 shares in the company, valued at $29,546,069.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 53.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Standard BioTools

A number of institutional investors have recently modified their holdings of the stock. Neuberger Berman Group LLC bought a new position in Standard BioTools in the third quarter valued at about $4,812,000. Vanguard Group Inc. purchased a new position in Standard BioTools during the 3rd quarter valued at approximately $4,349,000. BlackRock Inc. purchased a new position in Standard BioTools during the 3rd quarter valued at approximately $2,184,000. HighTower Advisors LLC boosted its holdings in shares of Standard BioTools by 117.6% in the 1st quarter. HighTower Advisors LLC now owns 992,519 shares of the company's stock worth $1,937,000 after purchasing an additional 536,341 shares during the period. Finally, EAM Investors LLC purchased a new position in shares of Standard BioTools in the 3rd quarter worth approximately $1,375,000. 53.74% of the stock is owned by hedge funds and other institutional investors.

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.