Standard BioTools (NASDAQ:LAB) Announces Quarterly Earnings Results, Beats Expectations By $0.35 EPS

Key Points

• Standard BioTools reported $0.33 EPS for the quarter, beating consensus by $0.35 and generating revenue of $21.15 million versus $17.80 million expected.
• Despite the beat, the company remains unprofitable with a negative net margin of 59.39% and a negative return on equity of 11.21%, while shares trade around $0.98 and the market cap is about $382.2 million.
• Institutional investors own roughly 53.74% of the stock with large stake increases from Mak Capital and Millennium Management, yet analysts hold a consensus rating of "Reduce" and a $1.35 target price.

Standard BioTools (NASDAQ:LAB - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $0.33 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.35, FiscalAI reports. The business had revenue of $21.15 million for the quarter, compared to analyst estimates of $17.80 million. Standard BioTools had a negative return on equity of 11.21% and a negative net margin of 59.39%.

Standard BioTools Stock Performance

Standard BioTools stock traded up $0.04 on Tuesday, reaching $0.98. The company's stock had a trading volume of 2,161,237 shares, compared to its average volume of 2,222,615. The company has a market cap of $382.17 million, a price-to-earnings ratio of -4.89 and a beta of 1.32. The business's fifty day moving average price is $0.97 and its 200 day moving average price is $1.22. Standard BioTools has a twelve month low of $0.87 and a twelve month high of $1.72.

Hedge Funds Weigh In On Standard BioTools

Several large investors have recently made changes to their positions in LAB. Mak Capital One LLC lifted its stake in shares of Standard BioTools by 21.1% during the fourth quarter. Mak Capital One LLC now owns 19,288,158 shares of the company's stock valued at $24,689,000 after acquiring an additional 3,356,352 shares during the period. Millennium Management LLC lifted its stake in shares of Standard BioTools by 133.0% during the fourth quarter. Millennium Management LLC now owns 3,387,428 shares of the company's stock valued at $4,336,000 after acquiring an additional 1,933,853 shares during the period. Kent Lake PR LLC acquired a new position in shares of Standard BioTools during the second quarter valued at $1,200,000. Landscape Capital Management L.L.C. acquired a new position in shares of Standard BioTools during the fourth quarter valued at $792,000. Finally, AQR Capital Management LLC lifted its stake in shares of Standard BioTools by 862.2% during the first quarter. AQR Capital Management LLC now owns 482,912 shares of the company's stock valued at $522,000 after acquiring an additional 432,725 shares during the period. Institutional investors and hedge funds own 53.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Weiss Ratings raised Standard BioTools from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, April 24th. Wall Street Zen raised Standard BioTools from a "sell" rating to a "hold" rating in a research note on Saturday, March 21st. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $1.35.

About Standard BioTools

Standard BioTools, Inc NASDAQ: LAB, formerly known as Fluidigm Corporation, is a life sciences tools company that develops and commercializes high-parameter, single-cell and spatial biology solutions. The company’s platforms integrate microfluidics, mass cytometry, sequencing and imaging to enable researchers to probe cellular heterogeneity, molecular interactions and complex tissue architecture. Its end users span academic institutions, pharmaceutical and biotechnology companies worldwide.

The company’s flagship products include mass cytometry systems—such as the Helios and Hyperion Imaging System—for multiplexed protein analysis at single-cell resolution, and the Chromium-style single-cell genomic tools for high-throughput gene expression profiling.

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