Insider Buy: Director of Standard BioTools Inc. (NASDAQ:LAB) buys 150,000 shares

Standard BioTools Inc. (NASDAQ:LAB – Get Your Free Report ) Director Casdin Partners Master Fund, L bought 150,000 shares of Standard BioTools stock in a transaction on Monday, August 26th. The shares were purchased at an average cost of $2.15 per share, for a total transaction of $322,500.00. Following the purchase, the director now owns 53,775,821 shares in the company, valued at $115,618,015.15. The acquisition was disclosed in a filing with the SEC, which is available on the SEC’s website.

Casdin Partners Master Fund, L also recently made the following trades:

• On Friday, August 23rd, Casdin Partners Master Fund, L bought 292,100 shares of Standard BioTools stock. The stock was acquired at an average cost of $2.13 per share, for a total transaction of $622,173.00.
• On Wednesday, August 21st, Casdin Partners Master Fund, L bought 500,000 shares of Standard BioTools stock. The shares were purchased at an average cost of $1.90 per share, for a total transaction of $950,000.00.
• On Monday, August 19th, Casdin Partners Master Fund, L purchased 250,000 shares of Standard BioTools stock. The shares were bought at an average price of $1.85 per share, for a total transaction of $462,500.00.
• On Wednesday, August 14th, Casdin Partners Master Fund, L acquired 1,200,000 shares of Standard BioTools stock. The shares were bought at an average price of $1.59 per share, for a total transaction of $1,908,000.00.
• On Monday, August 12th, Casdin Partners Master Fund, L purchased 500,000 shares of Standard BioTools stock. The shares were bought at an average price of $1.64 per share, for a total transaction of $820,000.00.
• On Friday, August 9th, Casdin Partners Master Fund, L purchased 525,408 shares of Standard BioTools stock. The stock was bought at an average price of $1.61 per share, for a total transaction of $845,906.88.
• On Wednesday, August 7th, Casdin Partners Master Fund, L acquired 500,000 shares of Standard BioTools stock. The shares were bought at an average price of $1.57 per share, for a total transaction of $785,000.00.
• On Friday, August 2nd, Casdin Partners Master Fund, L purchased 1,000,000 shares of Standard BioTools stock. The shares were bought at an average price of $1.63 per share, for a total transaction of $1,630,000.00.
• On Monday, August 5th, Casdin Partners Master Fund, L purchased 200,000 shares of Standard BioTools stock. The shares were bought at an average price of $1.58 per share, for a total transaction of $316,000.00.

Standard BioTools Price Performance

LAB opened at $2.17 on Tuesday. Standard BioTools Inc. it has a 12-month low of $1.21 and a 12-month high of $3.16. The stock has a market cap of $803.81 million, a P/E ratio of -2.15 and a beta of 1.67. The stock’s 50-day moving average price is $1.92 and its 200-day moving average price is $2.32.

Standard BioTools (NASDAQ:LAB – Get Free Report ) last posted its earnings results on Wednesday, July 31st. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. Standard BioTools had a negative return on equity of 88.47% and a negative net margin of 87.05%. The company had revenue of $37.21 million for the quarter, compared to analysts’ expectations of $48.15 million. Stock analysts anticipate that Standard BioTools Inc. will record -0.4 EPS for the current year.

Institutional marketing of standard bioinstruments

Several large investors have recently added to or reduced their stakes in LAB. Freestone Capital Holdings LLC purchased a new position in shares of Standard BioTools in the first quarter valued at $31,000. Evolution Wealth Advisors LLC purchased a new position in shares of Standard BioTools in the first quarter valued at $33,000. Xponance Inc. purchased a new position in shares of Standard BioTools during the second quarter valued at $34,000. Shell Asset Management Co. acquired a new position in shares of Standard BioTools in the 1st quarter valued at $39,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Standard BioTools in the second quarter valued at $39,000. 53.74% of the shares are currently owned by institutional investors and hedge funds.

Analyst upgrades and downgrades

Separately, TD Cowen decreased their price target on Standard BioTools from $3.50 to $2.75 and set a “buy” rating on the stock in a research report on Thursday, August 1st.

Read our latest review of standard BioTools

About Standard BioTools

(Get a free report)

Standard BioTools Inc, together with its subsidiaries, provides instruments, supplies, reagents and software services to researchers and clinical laboratories in the Americas, Europe, Middle East, Africa and Asia Pacific. It operates through two segments: Proteomics and Genomics. The company offers analytical systems such as the CyTOF XT System, a CyTOF XT mass cytometry system that performs high-parameter automated single-cell analysis using metal isotope-conjugated antibodies; and the Hyperion XTi imaging system, a space biology instrument.

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