Standard BioTools Inc. (NASDAQ:LAB) Receives $1.35 Average PT from Brokerages

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

Several brokerages have recently issued reports on LAB. TD Cowen lowered their price objective on shares of Standard BioTools from $1.55 to $1.35 and set a “hold” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Standard BioTools in a research report on Wednesday, October 8th. Zacks Research raised Standard BioTools to a “hold” rating in a report on Thursday, December 11th. Finally, Wall Street Zen lowered Standard BioTools from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th.

Standard BioTools Price Performance

Shares of LAB stock opened at $1.54 on Wednesday. The stock has a 50-day simple moving average of $1.37 and a 200 day simple moving average of $1.33. The stock has a market capitalization of $592.24 million, a P/E ratio of -4.53 and a beta of 1.26. Standard BioTools has a fifty-two week low of $0.92 and a fifty-two week high of $2.14.

Insider Buying and Selling at Standard BioTools

In related news, Director Casdin Partners Master Fund, L purchased 7,550,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was acquired at an average price of $1.30 per share, for a total transaction of $9,815,000.00. Following 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 legal filing with the SEC, which is available at the SEC website. In the last three months, insiders acquired 11,225,000 shares of company stock valued at $14,408,250. Company insiders own 23.16% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its position in shares of Standard BioTools by 2,989.0% in the third quarter. Russell Investments Group Ltd. now owns 25,021 shares of the company’s stock worth $33,000 after acquiring an additional 24,211 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Standard BioTools by 50.3% in the 2nd 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. Federated Hermes Inc. grew its position in Standard BioTools by 103.6% during the 3rd quarter. Federated Hermes Inc. now owns 28,545 shares of the company’s stock worth $37,000 after purchasing an additional 14,523 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in Standard BioTools during the 3rd quarter worth approximately $41,000. Finally, SG Americas Securities LLC raised its stake in Standard BioTools by 167.8% during the 3rd quarter. SG Americas Securities LLC now owns 33,039 shares of the company’s stock valued at $43,000 after purchasing an additional 20,700 shares during the period. 53.74% of the stock is currently owned by institutional investors and hedge funds.

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.