Insider Buying: Standard BioTools (NASDAQ:LAB) Director Buys $47,250.00 in Stock

Standard BioTools Inc. (NASDAQ:LAB) Director Thomas Carey acquired 75,000 shares of the stock in a transaction dated Thursday, November 5th. The shares were bought at an average price of $0.63 per share, for a total transaction of $47,250.00. Following the transaction, the director owned 419,456 shares in the company, valued at approximately $264,257.28. This represents a 21.77% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Standard BioTools Stock Performance

Shares of LAB stock traded up $0.01 on Thursday, hitting $0.62. 918,929 shares of the company’s stock traded hands, compared to its average volume of 2,281,671. The stock has a market capitalization of $245.11 million, a price-to-earnings ratio of 2.82 and a beta of 1.52. The company’s fifty day simple moving average is $0.68 and its 200 day simple moving average is $0.91. Standard BioTools Inc. has a one year low of $0.59 and a one year high of $1.72.

Standard BioTools (NASDAQ:LAB) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. Standard BioTools had a negative return on equity of 7.57% and a net margin of 100.36%. The firm had revenue of $19.39 million during the quarter, compared to analyst estimates of $18.80 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Standard BioTools from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Standard BioTools presently has a consensus rating of “Reduce”.

Institutional Trading of Standard BioTools

Hedge funds have recently bought and sold shares of the stock. State of Wyoming lifted its holdings in Standard BioTools by 227.3% during the third quarter. State of Wyoming now owns 246,346 shares of the company’s stock valued at $182,000 after purchasing an additional 171,077 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Standard BioTools in the second quarter worth $56,000. Squarepoint Ops LLC purchased a new stake in shares of Standard BioTools in the second quarter worth $228,000. HighTower Advisors LLC increased its stake in shares of Standard BioTools by 552.5% in the second quarter. HighTower Advisors LLC now owns 355,581 shares of the company’s stock worth $293,000 after purchasing an additional 301,090 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Standard BioTools during the 2nd quarter valued at $219,000. Institutional investors own 53.74% of the company’s stock.

Standard BioTools Company Profile

Standard BioTools Inc (NASDAQ: LAB) develops and supplies technologies, instruments and consumables used by researchers and biopharmaceutical companies to analyze biological systems. Its portfolio supports applications in proteomics, genomics, single-cell analysis, mass cytometry and spatial biology.

The company’s offerings include the SomaScan protein profiling platform, which measures large numbers of proteins from biological samples, as well as CyTOF mass cytometry systems for high-dimensional single-cell analysis.