TD Cowen Initiates Coverage on Standard BioTools (NASDAQ:LAB)

Equities researchers at TD Cowen assumed coverage on shares of Standard BioTools (NASDAQ:LAB) in a note issued to investors on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $3.50 price target on the stock. TD Cowen’s price target suggests a potential upside of 34.10% from the stock’s previous close.

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

Standard BioTools Stock Performance

Shares of LAB stock opened at $2.61 on Tuesday. The stock’s 50 day simple moving average is $2.60 and its 200 day simple moving average is $2.32. Standard BioTools has a twelve month low of $1.46 and a twelve month high of $3.16. The company has a market capitalization of $757.21 million, a price-to-earnings ratio of -2.75 and a beta of 1.64.

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

Insider Transactions at Standard BioTools

In other news, Director Casdin Partners Master Fund, L acquired 250,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $2.57 per share, with a total value of $642,500.00. Following the acquisition, the director now owns 11,496,525 shares of the company’s stock, valued at $29,546,069.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 53.10% of the stock is owned by insiders.

Institutional Trading of Standard BioTools

Several institutional investors have recently modified their holdings of LAB. SMH Capital Advisors Inc. acquired a new stake in Standard BioTools in the 4th quarter valued at $26,000. Jane Street Group LLC acquired a new stake in Standard BioTools in the 3rd quarter valued at $28,000. Marshall Wace LLP acquired a new stake in Standard BioTools in the 2nd quarter valued at $31,000. Walleye Capital LLC acquired a new stake in Standard BioTools in the 2nd quarter valued at $40,000. Finally, Acadian Asset Management LLC acquired a new stake in Standard BioTools in the 3rd quarter valued at $50,000. 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.