Standard BioTools (NASDAQ:LAB) Now Covered by TD Cowen

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

Separately, Jefferies Financial Group started coverage on shares of Standard BioTools in a report on Thursday, April 4th. They issued a buy rating and a $3.25 target price on the stock.

Standard BioTools Stock Down 0.8 %

Standard BioTools stock opened at $2.52 on Tuesday. Standard BioTools has a 52 week low of $1.46 and a 52 week high of $3.16. The firm’s 50-day simple moving average is $2.61 and its 200 day simple moving average is $2.32. The firm has a market capitalization of $731.10 million, a PE ratio of -2.65 and a beta of 1.64.

Standard BioTools (NASDAQ:LAB) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.05. The business had revenue of $28.19 million during the quarter, compared to analysts’ expectations of $28.00 million. On average, research analysts expect that Standard BioTools will post -0.47 EPS for the current fiscal year.

Insider Activity

In related news, Director Casdin Partners Master Fund, L acquired 250,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was bought at an average price of $2.57 per share, with a total value of $642,500.00. Following the purchase, the director now directly owns 11,496,525 shares in the company, valued at approximately $29,546,069.25. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 53.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Standard BioTools during the 1st quarter worth approximately $23,993,000. Neuberger Berman Group LLC acquired a new stake in Standard BioTools during the 3rd quarter worth approximately $4,812,000. Vanguard Group Inc. acquired a new stake in Standard BioTools during the 3rd quarter worth approximately $4,349,000. BlackRock Inc. acquired a new stake in Standard BioTools during the 3rd quarter worth approximately $2,184,000. Finally, HighTower Advisors LLC increased its position in Standard BioTools by 117.6% during the 1st quarter. HighTower Advisors LLC now owns 992,519 shares of the company’s stock worth $1,937,000 after purchasing an additional 536,341 shares in the last quarter. Institutional investors and hedge funds own 53.74% of the company’s stock.

About Standard BioTools

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.