Casdin partners master fund acquires over $5.1 million in Standard BioTools stock

In a recent SEC filing, Casdin Partners Master Fund, L.P. reported a significant acquisition of shares in Standard BioTools Inc. (NASDAQ:LAB). On February 28, the fund acquired approximately 4.82 million shares of Standard BioTools’ common stock at a price of $1.065 per share, totaling over $5.1 million. The acquisition comes as the stock trades near its 52-week low of $0.99, with InvestingPro data showing the company’s market capitalization at $376 million. Technical indicators from InvestingPro suggest the stock is currently in oversold territory.

Additionally, a cross-trade transaction involved the transfer of 545,000 shares from Casdin Amplify Fund, LP to Casdin Partners Master Fund, valued at approximately $1.16 million. The report also noted the issuance of restricted stock units (RSUs) valued at $61,998, which were elected in lieu of cash compensation for board services.

These transactions reflect Casdin’s ongoing investment strategy and involvement in Standard BioTools, as Eli Casdin continues to represent the reporting entities on the company’s board of directors.

In other recent news, Standard BioTools reported its fourth-quarter 2024 earnings, which showed a slight miss on both earnings per share (EPS) and revenue forecasts. The company posted an EPS of -$0.09, missing the forecast of -$0.07, and reported revenue of $46.7 million, slightly below the expected $47.02 million. Full-year revenue for 2024 was $175.1 million, representing a 9% decline from the previous year. KeyBanc analysts downgraded Standard BioTools from Overweight to Sector Weight due to concerns over the company’s revenue guidance for 2025, which is projected at $165 million to $175 million, falling short of consensus estimates.

This cautious outlook is attributed to potential budget cuts to the National Institutes of Health (NIH), which could impact the company’s revenue from academic institutions. Despite these challenges, Standard BioTools continues to focus on long-term growth, highlighted by the launch of its SomaScan proteomics platform. Additionally, the company is collaborating with Illumina (NASDAQ:ILMN) on a proteomics program, expected to launch commercially in the first half of 2025. Analysts from KeyBanc, however, have expressed concerns about the immediate financial benefits from this collaboration, noting that substantial commercial revenue is unlikely before 2026.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.