Standard BioTools (NASDAQ:LAB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Standard BioTools (NASDAQ:LAB) from a sell rating to a hold rating in a research note released on Saturday.

LAB has been the topic of several other research reports. Zacks Research upgraded Standard BioTools to a “hold” rating in a research note on Thursday, December 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Standard BioTools in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Standard BioTools has an average rating of “Reduce” and a consensus price target of $1.35.

Standard BioTools Stock Performance

NASDAQ LAB opened at $0.97 on Friday. The company has a market capitalization of $379.85 million, a PE ratio of -4.87 and a beta of 1.36. Standard BioTools has a 52-week low of $0.92 and a 52-week high of $1.72. The company has a 50-day simple moving average of $1.22 and a 200 day simple moving average of $1.30.

Standard BioTools (NASDAQ:LAB) last released its earnings results on Tuesday, February 24th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08. Standard BioTools had a negative net margin of 59.39% and a negative return on equity of 11.21%. The firm had revenue of $23.80 million for the quarter, compared to analysts’ expectations of $18.50 million. As a group, analysts forecast that Standard BioTools will post -0.29 EPS for the current fiscal year.

Institutional Trading of Standard BioTools

Several hedge funds and other institutional investors have recently modified their holdings of the business. Casdin Capital LLC boosted its holdings in Standard BioTools by 14.5% in the 4th quarter. Casdin Capital LLC now owns 88,783,856 shares of the company’s stock worth $113,643,000 after buying an additional 11,225,000 shares during the period. Mak Capital One LLC raised its holdings in Standard BioTools by 21.1% during the 4th quarter. Mak Capital One LLC now owns 19,288,158 shares of the company’s stock valued at $24,689,000 after acquiring an additional 3,356,352 shares during the period. Vanguard Group Inc. lifted its position in shares of Standard BioTools by 1.6% during the third quarter. Vanguard Group Inc. now owns 17,245,583 shares of the company’s stock worth $22,419,000 after acquiring an additional 263,845 shares in the last quarter. Long Focus Capital Management LLC lifted its position in shares of Standard BioTools by 12.8% during the third quarter. Long Focus Capital Management LLC now owns 11,362,804 shares of the company’s stock worth $14,772,000 after acquiring an additional 1,292,804 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Standard BioTools by 3.3% in the second quarter. Geode Capital Management LLC now owns 7,441,134 shares of the company’s stock worth $8,931,000 after acquiring an additional 235,677 shares during the period. Institutional investors own 53.74% of the company’s stock.

About Standard BioTools

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.