Standard BioTools (NASDAQ:LAB) Issues Earnings Results

Key Points

• Standard BioTools missed quarterly expectations: It reported an adjusted loss of $0.07 per share versus the consensus loss estimate of $0.01, while revenue of $20.10 million fell short of the $20.80 million forecast.
• The stock remained under pressure, trading around $0.78 and near its 12-month low of $0.70. Analysts maintain a “Reduce” consensus rating, with an average price target of $1.35.
• Institutional ownership is substantial: Hedge funds including Mak Capital One, Vanguard, State Street and Millennium Management increased their positions, and institutional investors collectively own 53.74% of LAB shares.

Standard BioTools (NASDAQ:LAB - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.06), FiscalAI reports. The company had revenue of $20.10 million during the quarter, compared to the consensus estimate of $20.80 million. Standard BioTools had a net margin of 73.46% and a negative return on equity of 8.18%.

Standard BioTools Price Performance

Shares of LAB traded down $0.04 during mid-day trading on Wednesday, reaching $0.78. 2,153,794 shares of the company's stock traded hands, compared to its average volume of 2,756,311. The stock's 50-day moving average is $0.89 and its two-hundred day moving average is $1.02. Standard BioTools has a 12 month low of $0.70 and a 12 month high of $1.72. The stock has a market cap of $306.09 million, a P/E ratio of 3.92 and a beta of 1.40.

Hedge Funds Weigh In On Standard BioTools

Several hedge funds have recently bought and sold shares of LAB. Mak Capital One LLC lifted its position 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 worth $24,689,000 after purchasing an additional 3,356,352 shares during the last quarter. Vanguard Group Inc. increased its stake in Standard BioTools by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 17,245,583 shares of the company's stock worth $22,419,000 after buying an additional 263,845 shares during the period. State Street Corp increased its stake in Standard BioTools by 1.3% in the 4th quarter. State Street Corp now owns 6,482,766 shares of the company's stock worth $8,298,000 after buying an additional 80,117 shares during the period. Millennium Management LLC lifted its holdings in Standard BioTools by 133.0% during the 4th quarter. Millennium Management LLC now owns 3,387,428 shares of the company's stock valued at $4,336,000 after buying an additional 1,933,853 shares in the last quarter. Finally, ARK Investment Management LLC lifted its holdings in Standard BioTools by 1.5% during the 4th quarter. ARK Investment Management LLC now owns 3,066,665 shares of the company's stock valued at $3,925,000 after buying an additional 44,937 shares in the last quarter. Institutional investors own 53.74% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Standard BioTools from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, July 21st. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $1.35.

Standard BioTools Company Profile

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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