Standard BioTools (NASDAQ:LAB) Trading 5.8% Higher – Here’s Why

Standard BioTools Inc. (NASDAQ:LAB) shares rose 5.8% during trading on Tuesday . The company traded as high as $1.09 and last traded at $1.09. Approximately 2,317,261 shares traded hands during trading, an increase of 20% from the average daily volume of 1,931,290 shares. The stock had previously closed at $1.03.

Analyst Ratings Changes

LAB has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Standard BioTools from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Wall Street Zen raised shares of Standard BioTools from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $1.35.

Standard BioTools Stock Up 5.8%

The stock has a market capitalization of $425.50 million, a PE ratio of 5.45 and a beta of 1.32. The stock’s 50-day moving average is $0.96 and its 200 day moving average is $1.19.

Standard BioTools (NASDAQ:LAB) last posted its earnings results on Tuesday, February 24th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.08. The company had revenue of $23.80 million during the quarter, compared to the consensus estimate of $18.50 million. Standard BioTools had a net margin of 73.46% and a negative return on equity of 8.18%.

Institutional Trading of Standard BioTools

Several large investors have recently added to or reduced their stakes in the business. Front Street Capital Management Inc. grew its position in Standard BioTools by 9.9% in the first quarter. Front Street Capital Management Inc. now owns 141,231 shares of the company’s stock worth $130,000 after acquiring an additional 12,706 shares in the last quarter. Rangeley Capital LLC bought a new stake in Standard BioTools in the first quarter worth approximately $46,000. Staley Capital Advisers Inc. bought a new stake in Standard BioTools in the first quarter worth approximately $581,000. Rockefeller Capital Management L.P. grew its position in Standard BioTools by 34.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 444,144 shares of the company’s stock worth $569,000 after acquiring an additional 112,920 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Standard BioTools in the fourth quarter worth approximately $65,000. 53.74% of the stock is owned by institutional investors.

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.