Standard BioTools (NASDAQ:LAB) Stock Rating Upgraded by Zacks Research

Standard BioTools (NASDAQ:LAB) was upgraded by equities research analysts at Zacks Research to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other analysts also recently commented on LAB. TD Cowen reduced their price objective on Standard BioTools from $1.55 to $1.35 and set a “hold” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Standard BioTools in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Standard BioTools from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Finally, Cowen downgraded shares of Standard BioTools from a “buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $1.35.

Standard BioTools Stock Performance

Shares of NASDAQ:LAB opened at $1.45 on Thursday. Standard BioTools has a one year low of $0.92 and a one year high of $2.25. The stock has a market capitalization of $557.63 million, a price-to-earnings ratio of -4.26 and a beta of 1.24. The company has a 50-day simple moving average of $1.32 and a 200-day simple moving average of $1.28.

Insider Activity at Standard BioTools

In related news, Director Casdin Partners Master Fund, L bought 150,000 shares of the stock in a transaction on Thursday, December 4th. The shares were bought at an average cost of $1.45 per share, for a total transaction of $217,500.00. Following the completion of the transaction, the director owned 72,100,000 shares of the company’s stock, valued at $104,545,000. This represents a 0.21% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 11,225,000 shares of company stock valued at $14,408,250 in the last ninety days. 23.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On Standard BioTools

Institutional investors and hedge funds have recently modified their holdings of the company. Jump Financial LLC purchased a new position in shares of Standard BioTools in the first quarter valued at $26,000. Russell Investments Group Ltd. grew its stake in Standard BioTools by 2,989.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 25,021 shares of the company’s stock valued at $33,000 after acquiring an additional 24,211 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Standard BioTools by 50.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 29,826 shares of the company’s stock valued at $36,000 after acquiring an additional 9,986 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Standard BioTools by 103.6% in the third quarter. Federated Hermes Inc. now owns 28,545 shares of the company’s stock valued at $37,000 after purchasing an additional 14,523 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Standard BioTools in the third quarter valued at approximately $41,000. Institutional investors and hedge funds own 53.74% of the company’s stock.

Standard BioTools Company Profile

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.