Standard BioTools (NASDAQ:LAB) Sets New 52-Week Low – Here’s Why

Standard BioTools Inc. (NASDAQ:LAB)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $1.17 and last traded at $1.31, with a volume of 3060643 shares trading hands. The stock had previously closed at $1.31.

Wall Street Analyst Weigh In

Separately, TD Cowen dropped their price target on Standard BioTools from $2.75 to $2.50 and set a “buy” rating for the company in a research report on Thursday, October 31st.

Standard BioTools Trading Down 1.8 %

The company has a market capitalization of $495.10 million, a price-to-earnings ratio of -1.87 and a beta of 1.57. The company’s 50 day simple moving average is $1.76 and its 200-day simple moving average is $1.84.

Institutional Trading of Standard BioTools

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hollow Brook Wealth Management LLC acquired a new stake in shares of Standard BioTools during the third quarter worth $10,679,000. Charles Schwab Investment Management Inc. boosted its stake in Standard BioTools by 188.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,445,083 shares of the company’s stock worth $4,719,000 after buying an additional 1,597,728 shares during the last quarter. State Street Corp grew its holdings in Standard BioTools by 26.7% in the 3rd quarter. State Street Corp now owns 5,495,136 shares of the company’s stock valued at $10,606,000 after buying an additional 1,157,984 shares during the period. Royce & Associates LP increased its stake in shares of Standard BioTools by 136.8% during the 4th quarter. Royce & Associates LP now owns 1,455,503 shares of the company’s stock valued at $2,547,000 after acquiring an additional 840,951 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Standard BioTools by 13.2% during the 3rd quarter. Barclays PLC now owns 3,228,360 shares of the company’s stock worth $6,231,000 after acquiring an additional 377,195 shares during the period. 53.74% of the stock is owned by hedge funds and other institutional investors.

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.