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Standard BioTools Inc. (NASDAQ: LAB): Why Investors Shouldn’t Ditch LAB Stock In 2023

In the latest trading session, 0.48 million Standard BioTools Inc. (NASDAQ:LAB) shares changed hands as the company’s beta touched 1.42. With the company’s most recent per share price at $2.79 changing hands around $0.14 or 5.28% at last look, the market valuation stands at $230.54M. LAB’s current price is a discount, trading about -13.26% off its 52-week high of $3.16. The share price had its 52-week low at $0.92, which suggests the last value was 67.03% up since then. When we look at Standard BioTools Inc.’s average trading volume, we note the 10-day average is 0.26 million shares, with the 3-month average coming to 239.50K.

Analysts gave the Standard BioTools Inc. (LAB) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 1 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended LAB as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Standard BioTools Inc.’s EPS for the current quarter is expected to be $0.

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Standard BioTools Inc. (NASDAQ:LAB) trade information

Instantly LAB is in green as seen in intraday trades today. With action -2.45%, the performance over the past five days has been red. The jump to weekly highs of 3.05 on Monday, 09/18/23 added 5.28% to the stock’s daily price. The company’s shares are showing year-to-date upside of 138.46%, with the 5-day performance at -2.45% in the red. However, in the 30-day time frame, Standard BioTools Inc. (NASDAQ:LAB) is 3.72% up. Looking at the short shares, we see there were 2.55 million shares sold at short interest cover period of 8.9 days.

The consensus price target for the stock as assigned by Wall Street analysts is $4.00, meaning bulls need an upside of 30.25% from its recent market value. According to analyst projections, LAB’s forecast low is $4.00 with $4.00 as the target high. To hit the forecast high, the stock’s price needs a -43.37% plunge from its current level, while the stock would need to soar -43.37% for it to hit the projected low.

Standard BioTools Inc. (LAB) estimates and forecasts

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -5.70%. The 2023 estimates are for Standard BioTools Inc. earnings to decrease by -210.60%.

LAB Dividends

Standard BioTools Inc. is expected to release its next quarterly earnings report between November 06 and November 10.

Standard BioTools Inc. (NASDAQ:LAB)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 2.79% of Standard BioTools Inc. shares while 61.67% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 63.44%. There are 61.67% institutions holding the Standard BioTools Inc. stock share, with Caligan Partners, LP the top institutional holder. As of Jun 29, 2023, the company held 10.72% of the shares, roughly 8.47 million LAB shares worth $16.34 million.

Indaba Capital Management, L.P. holds the second largest percentage of outstanding shares, with 9.43% or 7.45 million shares worth $14.37 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Primecap Odyssey Aggressive Growth Fund. With 2.86 million shares estimated at $5.51 million under it, the former controlled 3.62% of total outstanding shares. On the other hand, Primecap Odyssey Aggressive Growth Fund held about 2.96% of the shares, roughly 2.34 million shares worth around $4.51 million.

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