Standard BioTools (NASDAQ:LAB) Receives New Coverage from Analysts at TD Cowen

TD Cowen assumed coverage on shares of Standard BioTools (NASDAQ:LAB) in a research report released on Tuesday morning, Marketbeat reports. The firm issued a buy rating and a $3.50 price objective on the stock.

Separately, Jefferies Financial Group started coverage on Standard BioTools in a research note on Thursday, April 4th. They set a buy rating and a $3.25 price objective for the company.

Standard BioTools Stock Performance

NASDAQ LAB opened at $2.71 on Tuesday. The stock has a 50-day simple moving average of $2.59 and a two-hundred day simple moving average of $2.32. The firm has a market capitalization of $786.23 million, a P/E ratio of -2.85 and a beta of 1.64. Standard BioTools has a fifty-two week low of $1.46 and a fifty-two week high of $3.16.

Standard BioTools (NASDAQ:LAB) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. The company had revenue of $28.19 million for the quarter, compared to analysts’ expectations of $28.00 million. As a group, analysts forecast that Standard BioTools will post -0.47 earnings per share for the current year.

Insider Activity at Standard BioTools

In other Standard BioTools news, Director Casdin Partners Master Fund, L purchased 250,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average price of $2.57 per share, for a total transaction of $642,500.00. Following the purchase, the director now directly owns 11,496,525 shares in the company, valued at $29,546,069.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 53.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Standard BioTools

Large investors have recently bought and sold shares of the company. Marshall Wace LLP purchased a new stake in Standard BioTools during the 2nd quarter worth approximately $31,000. Acadian Asset Management LLC purchased a new stake in Standard BioTools during the 3rd quarter worth approximately $50,000. Qube Research & Technologies Ltd purchased a new stake in Standard BioTools during the 3rd quarter worth approximately $55,000. Freedom Wealth Alliance LLC purchased a new stake in Standard BioTools during the 3rd quarter worth approximately $59,000. Finally, Walleye Capital LLC purchased a new stake in Standard BioTools during the 2nd quarter worth approximately $40,000. 53.74% of the stock is currently 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.