Analysts Set Standard BioTools Inc. (NASDAQ:LAB) PT at $1.35

Standard BioTools Inc. (NASDAQ:LAB) has been given an average rating of “Reduce” by the five research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $1.35.

LAB has been the topic of a number of analyst reports. TD Cowen decreased their target price on shares of Standard BioTools from $1.55 to $1.35 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Standard BioTools in a research report on Wednesday, October 8th. Wall Street Zen downgraded Standard BioTools from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Finally, Zacks Research raised Standard BioTools to a “hold” rating in a research note on Thursday, December 11th.

Standard BioTools Stock Down 1.8%

Shares of LAB opened at $1.63 on Friday. Standard BioTools has a twelve month low of $0.92 and a twelve month high of $2.14. The stock has a market cap of $626.85 million, a PE ratio of -4.79 and a beta of 1.24. The business’s 50-day moving average price is $1.34 and its 200-day moving average price is $1.29.

Insider Activity

In other Standard BioTools news, Director Casdin Partners Master Fund, L acquired 150,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was bought at an average price of $1.45 per share, with a total value of $217,500.00. Following the completion of the acquisition, the director owned 72,100,000 shares of the company’s stock, valued at $104,545,000. This trade represents a 0.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders bought 11,225,000 shares of company stock worth $14,408,250. Company insiders own 23.16% of the company’s stock.

Hedge Funds Weigh In On Standard BioTools

A number of hedge funds and other institutional investors have recently bought and sold shares of LAB. Casdin Capital LLC lifted its holdings in shares of Standard BioTools by 1.9% during the 3rd quarter. Casdin Capital LLC now owns 77,558,856 shares of the company’s stock worth $100,827,000 after acquiring an additional 1,483,220 shares during the last quarter. Vanguard Group Inc. raised its position in Standard BioTools by 1.6% during the third quarter. Vanguard Group Inc. now owns 17,245,583 shares of the company’s stock valued at $22,419,000 after purchasing an additional 263,845 shares in the last quarter. Mak Capital One LLC raised its position in Standard BioTools by 184.6% during the third quarter. Mak Capital One LLC now owns 15,931,806 shares of the company’s stock valued at $20,711,000 after purchasing an additional 10,334,384 shares in the last quarter. Long Focus Capital Management LLC lifted its stake in Standard BioTools by 12.8% during the third quarter. Long Focus Capital Management LLC now owns 11,362,804 shares of the company’s stock worth $14,772,000 after purchasing an additional 1,292,804 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Standard BioTools by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 7,441,134 shares of the company’s stock worth $8,931,000 after purchasing an additional 235,677 shares in the last quarter. Hedge funds and other institutional investors own 53.74% of the company’s stock.

About Standard BioTools

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.