Standard BioTools (NASDAQ:LAB) Stock Falls 1.7% - What's Next?

Key Points

• Standard BioTools shares fell 1.7% in mid-day trading to about $0.73, with trading volume 66% below the average session level.
• Analyst sentiment remains cautious: the stock carries an average “Reduce” rating, including two Holds and one Sell, with a consensus price target of $1.35.
• The company’s latest quarterly results missed expectations, reporting a $0.07-per-share loss versus a projected $0.01 loss and revenue of $20.1 million versus the $20.8 million estimate.

Standard BioTools Inc. (NASDAQ:LAB - Get Free Report)'s share price was down 1.7% during mid-day trading on Monday. The company traded as low as $0.7206 and last traded at $0.7273. Approximately 478,990 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 1,399,853 shares. The stock had previously closed at $0.7399.

Analyst Upgrades and Downgrades

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

Standard BioTools Stock Performance

The stock has a 50-day simple moving average of $0.74 and a 200 day simple moving average of $0.87. The stock has a market capitalization of $285.52 million, a P/E ratio of 3.31 and a beta of 1.37.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LAB. Engineers Gate Manager LP acquired a new stake in shares of Standard BioTools during the 2nd quarter worth approximately $56,000. Squarepoint Ops LLC bought a new stake in shares of Standard BioTools during the second quarter worth 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 worth $293,000 after buying an additional 301,090 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Standard BioTools in the second quarter valued at approximately $219,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Standard BioTools in the second quarter valued at approximately $42,000. Institutional investors own 53.74% of the company's stock.

Standard BioTools Company Profile

Standard BioTools Inc NASDAQ: LAB develops and supplies technologies used to advance biomedical research, with a focus on single-cell analysis, spatial biology and proteomics. Its products are designed to help researchers characterize cells, tissues and biological samples at high resolution for applications including immunology, oncology, infectious disease research and drug development.

The company's portfolio includes mass cytometry systems and reagents sold under the CyTOF and Maxpar brands, as well as imaging technologies for analyzing the spatial distribution of proteins and other biomarkers in tissue samples.

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