Standard BioTools (NASDAQ:LAB) Stock Price Down 6.1% – Here’s Why

Standard BioTools Inc. (NASDAQ:LAB) fell 6.1% during mid-day trading on Friday . The stock traded as low as $1.39 and last traded at $1.38. 1,130,947 shares traded hands during trading, a decline of 33% from the average session volume of 1,687,540 shares. The stock had previously closed at $1.47.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LAB shares. TD Cowen decreased their target price on Standard BioTools from $1.55 to $1.35 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Zacks Research upgraded shares of Standard BioTools to a “hold” rating in a report on Thursday, December 11th. Wall Street Zen cut shares of Standard BioTools from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Standard BioTools in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $1.35.

Standard BioTools Stock Down 6.1%

The firm has a market capitalization of $531.08 million, a P/E ratio of -4.06 and a beta of 1.24. The firm has a 50 day moving average of $1.36 and a 200-day moving average of $1.31.

Insider Activity at Standard BioTools

In other news, Director Casdin Partners Master Fund, L acquired 7,550,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was acquired at an average price of $1.30 per share, with a total value of $9,815,000.00. Following the completion of the transaction, the director directly owned 71,750,000 shares of the company’s stock, valued at $93,275,000. This trade represents a 11.76% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired a total of 11,225,000 shares of company stock valued at $14,408,250 in the last quarter. 23.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Standard BioTools

Institutional investors have recently modified their holdings of the business. Intech Investment Management LLC increased its stake in shares of Standard BioTools by 6.1% in the 2nd quarter. Intech Investment Management LLC now owns 149,018 shares of the company’s stock valued at $179,000 after acquiring an additional 8,519 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Standard BioTools by 50.3% in the second quarter. BNP Paribas Financial Markets now owns 29,826 shares of the company’s stock worth $36,000 after purchasing an additional 9,986 shares during the period. HighTower Advisors LLC increased its position in Standard BioTools by 10.8% in the 1st quarter. HighTower Advisors LLC now owns 102,791 shares of the company’s stock valued at $111,000 after buying an additional 10,000 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Standard BioTools by 103.6% during the third quarter. Federated Hermes Inc. now owns 28,545 shares of the company’s stock valued at $37,000 after acquiring an additional 14,523 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in Standard BioTools by 70.2% during the second quarter. Cerity Partners LLC now owns 37,501 shares of the company’s stock worth $45,000 after buying an additional 15,470 shares during the last quarter. Institutional investors and hedge funds own 53.74% of the company’s stock.

Standard BioTools Company Profile

Standard BioTools, Inc (NASDAQ: LAB), formerly known as Fluidigm Corporation, is a life sciences tools company that develops and commercializes high-parameter, single-cell and spatial biology solutions. The company’s platforms integrate microfluidics, mass cytometry, sequencing and imaging to enable researchers to probe cellular heterogeneity, molecular interactions and complex tissue architecture. Its end users span academic institutions, pharmaceutical and biotechnology companies worldwide.

The company’s flagship products include mass cytometry systems—such as the Helios and Hyperion Imaging System—for multiplexed protein analysis at single-cell resolution, and the Chromium-style single-cell genomic tools for high-throughput gene expression profiling.