Standard BioTools (NASDAQ:LAB) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• Standard BioTools reported a net loss of ($0.05) earnings per share for the quarter, missing estimates by ($0.01).
• The company's stock price decreased by 2.3%, reaching $1.28, amidst a trading volume of approximately 1.2 million shares.
• AQR Capital Management significantly increased its stake in Standard BioTools by 862.2% during the first quarter, now holding 53.74% of the company's shares owned by institutional investors.

Standard BioTools (NASDAQ:LAB - Get Free Report) posted its quarterly earnings data on Monday. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01), Zacks reports. Standard BioTools had a negative net margin of 69.08% and a negative return on equity of 19.72%. The business had revenue of $21.76 million during the quarter, compared to analysts' expectations of $39.83 million. Standard BioTools updated its FY 2025 guidance to EPS.

Standard BioTools Stock Down 6.9%

LAB traded down $0.09 on Thursday, hitting $1.22. 1,670,301 shares of the company traded hands, compared to its average volume of 1,359,504. The company has a 50 day moving average of $1.25 and a 200-day moving average of $1.20. The stock has a market capitalization of $463.38 million, a PE ratio of -3.81 and a beta of 1.32. Standard BioTools has a 12-month low of $0.92 and a 12-month high of $2.32.

Wall Street Analysts Forecast Growth

LAB has been the topic of a number of recent research reports. TD Cowen lowered shares of Standard BioTools from a "buy" rating to a "hold" rating and set a $1.55 target price on the stock. in a research note on Wednesday. Cowen downgraded Standard BioTools from a "buy" rating to a "hold" rating in a research note on Wednesday.

Institutional Trading of Standard BioTools

Several institutional investors and hedge funds have recently added to or reduced their stakes in LAB. Jane Street Group LLC purchased a new position in Standard BioTools in the second quarter valued at about $43,000. Cerity Partners LLC lifted its holdings in shares of Standard BioTools by 70.2% in the second quarter. Cerity Partners LLC now owns 37,501 shares of the company's stock valued at $45,000 after purchasing an additional 15,470 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Standard BioTools by 72.7% during the second quarter. Prudential Financial Inc. now owns 39,307 shares of the company's stock worth $47,000 after buying an additional 16,541 shares in the last quarter. Creative Planning grew its holdings in shares of Standard BioTools by 56.6% during the second quarter. Creative Planning now owns 61,102 shares of the company's stock worth $73,000 after buying an additional 22,082 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Standard BioTools by 25.7% during the second quarter. Legal & General Group Plc now owns 310,435 shares of the company's stock worth $373,000 after buying an additional 63,484 shares in the last quarter. 53.74% of the stock is owned by hedge funds and other institutional investors.

Standard BioTools Company Profile

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.