Standard BioTools Inc. $LAB Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its position in Standard BioTools Inc. (NASDAQ:LAB) by 89.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 442,784 shares of the company’s stock after selling 3,893,103 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Standard BioTools were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets boosted 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. Deutsche Bank AG raised its holdings in shares of Standard BioTools by 4.4% during the fourth quarter. Deutsche Bank AG now owns 255,851 shares of the company’s stock worth $327,000 after purchasing an additional 10,824 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Standard BioTools by 9.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 172,134 shares of the company’s stock worth $221,000 after buying an additional 14,592 shares during the last quarter. Cerity Partners LLC lifted its position in shares of Standard BioTools by 70.2% in the 2nd 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. Finally, Prudential Financial Inc. boosted its holdings in shares of Standard BioTools by 72.7% in the 2nd quarter. Prudential Financial Inc. now owns 39,307 shares of the company’s stock valued at $47,000 after buying an additional 16,541 shares during the period. 53.74% of the stock is owned by institutional investors and hedge funds.

Standard BioTools Stock Performance

LAB stock opened at $0.86 on Friday. Standard BioTools Inc. has a 1 year low of $0.70 and a 1 year high of $1.72. The stock has a market capitalization of $334.74 million, a price-to-earnings ratio of 4.29 and a beta of 1.42. The stock’s fifty day moving average is $0.94 and its two-hundred day moving average is $1.07.

Wall Street Analysts Forecast Growth

LAB has been the subject of a number of recent research reports. Weiss Ratings downgraded shares of Standard BioTools from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 27th. Wall Street Zen raised shares of Standard BioTools from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $1.35.

Standard BioTools 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.