Standard BioTools (NASDAQ:LAB) Earns Buy Rating from Analysts at TD Cowen

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

Separately, Jefferies Financial Group initiated coverage on Standard BioTools in a research note on Thursday, April 4th. They set a buy rating and a $3.25 price target on the stock.

Standard BioTools Trading Down 2.7 %

NASDAQ:LAB opened at $2.54 on Tuesday. Standard BioTools has a twelve month low of $1.46 and a twelve month high of $3.16. The company has a market cap of $736.90 million, a price-to-earnings ratio of -2.67 and a beta of 1.64. The stock has a fifty day simple moving average of $2.60 and a 200-day simple moving average of $2.32.

Standard BioTools (NASDAQ:LAB) last released its earnings results on Wednesday, February 28th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.05. The business had revenue of $28.19 million for the quarter, compared to the consensus estimate of $28.00 million. As a group, equities research analysts predict that Standard BioTools will post -0.47 EPS for the current fiscal year.

Insider Activity

In other news, Director Casdin Partners Master Fund, L purchased 250,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were purchased at an average price of $2.57 per share, for a total transaction of $642,500.00. Following the completion of the purchase, the director now owns 11,496,525 shares in the company, valued at approximately $29,546,069.25. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 53.10% of the company’s stock.

Hedge Funds Weigh In On Standard BioTools

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP acquired a new position in shares of Standard BioTools during the third quarter valued at about $429,000. Renaissance Technologies LLC acquired a new position in shares of Standard BioTools during the third quarter valued at about $379,000. Cubist Systematic Strategies LLC acquired a new position in shares of Standard BioTools during the third quarter valued at about $126,000. BlackRock Inc. acquired a new position in shares of Standard BioTools during the third quarter valued at about $2,184,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Standard BioTools during the third quarter valued at about $113,000. Hedge funds and other institutional investors 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.