Standard BioTools (NASDAQ:LAB) Shares Climb 2.3% - Still a Buy?

Key Points

• Standard BioTools shares rose 2.3% to $0.6433, although trading volume was 53% below the daily average. The stock remains below both its 50-day ($0.70) and 200-day ($0.84) moving averages.
• Analysts maintain a cautious outlook: the stock has an average “Reduce” rating, with two Holds and one Sell, despite a consensus price target of $1.35. Weiss Ratings also downgraded the shares from “sell (d+)” to “sell (d).”
• The company missed quarterly expectations, reporting a loss of $0.07 per share versus the projected $0.01 loss and revenue of $20.10 million versus the $20.80 million estimate. Institutional investors own 53.74% of the stock and several increased or initiated positions during the second quarter.

Shares of Standard BioTools Inc. (NASDAQ:LAB - Get Free Report) shot up 2.3% on Monday. The company traded as high as $0.6499 and last traded at $0.6433. 414,669 shares were traded during trading, a decline of 53% from the average daily volume of 875,022 shares. The stock had previously closed at $0.6290.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Standard BioTools from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $1.35.

Standard BioTools Stock Performance

The stock has a market capitalization of $252.55 million, a price-to-earnings ratio of 2.92 and a beta of 1.36. The firm has a fifty day moving average of $0.70 and a 200-day moving average of $0.84.

Standard BioTools (NASDAQ:LAB - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.06). The company had revenue of $20.10 million during the quarter, compared to analysts' expectations of $20.80 million. Standard BioTools had a net margin of 100.36% and a negative return on equity of 7.57%.

Institutional Investors Weigh In On Standard BioTools

A number of large investors have recently modified their holdings of the stock. Engineers Gate Manager LP purchased a new position in Standard BioTools in the 2nd quarter worth approximately $56,000. Squarepoint Ops LLC purchased a new stake in shares of Standard BioTools during the second quarter valued at approximately $228,000. HighTower Advisors LLC raised its stake in shares of Standard BioTools by 552.5% during the second quarter. HighTower Advisors LLC now owns 355,581 shares of the company's stock valued at $293,000 after purchasing an additional 301,090 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of Standard BioTools during the second quarter valued at approximately $219,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Standard BioTools during the second quarter valued at approximately $42,000. Institutional investors and hedge funds own 53.74% of the company's stock.

Standard BioTools Company Profile

Standard BioTools Inc NASDAQ: LAB develops and supplies technologies, instruments and consumables used in biomedical research. Its products are designed to help researchers analyze cells, proteins, genes and other biological systems, supporting applications in immunology, oncology, drug discovery and precision medicine.

The company's offerings include mass cytometry systems, which measure numerous cellular markers simultaneously; imaging mass cytometry platforms for analyzing biomarkers within tissue samples; and microfluidic tools for genomic and single-cell analysis.

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