The stock of Standard BioTools Inc. (NASDAQ:LAB) last traded at $3.05, up 1.67% from the previous session.
LAB stock price is now 25.64% away from the 50-day moving average and 53.85% away from the 200-day moving average. The market capitalization of the company currently stands at $236.89M.
With the price target of $4, KeyBanc Capital Markets recently initiated with Overweight rating for Standard BioTools Inc. (NASDAQ: LAB).
In other news, Casdin Eli, Director bought 800,000 shares of the company’s stock on May 19. The stock was bought for $1,835,920 at an average price of $2.29. Upon completion of the transaction, the Director now directly owns 1,200,000 shares in the company, valued at $3.66 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 19, Director Casdin Partners Master Fund, L bought 800,000 shares of the business’s stock. A total of $1,835,920 was incurred on buying the stock at an average price of $2.29. This leaves the insider owning 1,200,000 shares of the company worth $3.66 million. Insiders disposed of 3,684,946 shares of company stock worth roughly $11.24 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in LAB stock. A new stake in Standard BioTools Inc. shares was purchased by BALYASNY ASSET MANAGEMENT L.P. during the first quarter worth $6,410,000. CASDIN CAPITAL, LLC invested $3,660,000 in shares of LAB during the first quarter. In the first quarter, MIRADOR CAPITAL PARTNERS LP acquired a new stake in Standard BioTools Inc. valued at approximately $146,000. OCCUDO QUANTITATIVE STRATEGIES LP acquired a new stake in LAB for approximately $101,000. EVERSOURCE WEALTH ADVISORS, LLC purchased a new stake in LAB valued at around $85,000 in the second quarter. In total, there are 91 active investors with 71.60% ownership of the company’s stock.
With an opening price of $3.0000 on Friday morning, Standard BioTools Inc. (NASDAQ: LAB) set off the trading day. During the past 12 months, Standard BioTools Inc. has had a low of $0.92 and a high of $3.12. The fifty day moving average price for LAB is $2.4474 and a two-hundred day moving average price translates $1.9905 for the stock.
The latest earnings results from Standard BioTools Inc. (NASDAQ: LAB) was released for Jun, 2023. The net profit margin was -79.80% and return on equity was 94.90% for LAB. The company reported revenue of $27.67 million for the quarter, compared to $18.78 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 47.34 percent.
Standard BioTools Inc.(LAB) Company Profile
Standard BioTools Inc., together with its subsidiaries, creates, manufactures, and markets instruments, consumables, reagents, and software for researchers and clinical laboratories worldwide. It offers analytical systems, such as Helios, a CyTOF system, as well as Hyperion imaging systems, Hyperion tissue imagers, and flow conductors; and assays and reagents, including Maxpar reagents, Maxpar direct immune profiling assays, Maxpar on demand reagents, and IMC panel kits for immuno-oncology. The company also provides preparatory instruments, such as Juno systems; and analytical instruments comprising Biomark HD system and EP1 system. In addition, it offers integrated fluidic circuits (IFCs), such as library preparation IFCs, Juno genotyping IFC, dynamic array IFCs, digital array IFCs, and Flex Six IFC; and assays and reagents, including Advanta RNA-Seq NGS library prep kits, Advanta Dx SARS-CoV-2 RT-PCR assays, Advanta Dx COVID-19 EASE assays, delta gene and SNP type assays, access array target-specific primers and targeted sequencing prep primers, and targeted DNA Seq library assays. Further, the company offers single cell microfluidics that comprise C1 systems; preparatory analytical instruments, which include C1 IFCs; and software solutions. It sells its products to academic research institutions; translational research and medicine centers; cancer centers; clinical research laboratories; biopharmaceutical, biotechnology, and plant and animal research companies; and contract research organizations. It has license agreements with California Institute of Technology, Harvard University, and Caliper Life Sciences, Inc. The company was formerly known as Fluidigm Corporation and changed its name to Standard BioTools Inc. in April 2022. Fluidigm Corporation was incorporated in 1999 and is headquartered in South San Francisco, California.
