Standard BioTools (NASDAQ:LAB) Shares Gap Up – Here’s What Happened

Standard BioTools Inc. (NASDAQ:LAB) gapped up before the market opened on Thursday . The stock had previously closed at $1.28, but opened at $1.39. Standard BioTools shares last traded at $1.4150, with a volume of 1,247,732 shares.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Standard BioTools in a research note on Wednesday, October 8th. Zacks Research raised Standard BioTools to a “hold” rating in a research report on Thursday, December 11th. TD Cowen cut their price target on Standard BioTools from $1.55 to $1.35 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Finally, Wall Street Zen downgraded Standard BioTools from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $1.35.

Standard BioTools Trading Up 16.8%

The firm has a market cap of $574.93 million, a P/E ratio of -4.40 and a beta of 1.26. The company’s 50-day moving average is $1.36 and its two-hundred day moving average is $1.32.

Insider Buying and Selling at Standard BioTools

In related news, Director Casdin Partners Master Fund, L bought 7,550,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were bought 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 in the company, valued at approximately $93,275,000. This represents a 11.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased a total of 11,225,000 shares of company stock valued at $14,408,250 in the last 90 days. 23.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On Standard BioTools

Several large investors have recently bought and sold shares of the stock. Casdin Capital LLC increased its holdings in Standard BioTools by 1.9% during the third quarter. Casdin Capital LLC now owns 77,558,856 shares of the company’s stock worth $100,827,000 after buying an additional 1,483,220 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Standard BioTools by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 17,245,583 shares of the company’s stock valued at $22,419,000 after acquiring an additional 263,845 shares during the period. Mak Capital One LLC grew its position in shares of Standard BioTools by 184.6% during the 3rd quarter. Mak Capital One LLC now owns 15,931,806 shares of the company’s stock valued at $20,711,000 after acquiring an additional 10,334,384 shares during the period. Long Focus Capital Management LLC increased its stake in shares of Standard BioTools by 12.8% during the 3rd 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 raised 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 during the period. 53.74% of the stock is currently owned by institutional investors.

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.