Sumitomo Mitsui Trust Group Inc. Sells 68,156 Shares of Standard BioTools Inc. $LAB

Sumitomo Mitsui Trust Group Inc. cut its position in shares of Standard BioTools Inc. (NASDAQ:LAB) by 1.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,165,537 shares of the company’s stock after selling 68,156 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 1.62% of Standard BioTools worth $7,399,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Standard BioTools by 0.4% during the first quarter. Vanguard Group Inc. now owns 17,225,250 shares of the company’s stock valued at $18,603,000 after buying an additional 69,104 shares during the last quarter. Long Focus Capital Management LLC bought a new position in Standard BioTools during the first quarter valued at approximately $7,236,000. ARK Investment Management LLC boosted its stake in Standard BioTools by 3.9% during the first quarter. ARK Investment Management LLC now owns 3,452,890 shares of the company’s stock valued at $3,729,000 after buying an additional 129,201 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Standard BioTools by 4.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,443,060 shares of the company’s stock valued at $2,639,000 after buying an additional 110,411 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in Standard BioTools by 37.4% during the first quarter. Royce & Associates LP now owns 2,000,503 shares of the company’s stock valued at $2,161,000 after buying an additional 545,000 shares during the last quarter. 53.74% of the stock is owned by institutional investors.

Standard BioTools Stock Performance

Shares of NASDAQ LAB opened at $1.19 on Thursday. The business’s 50 day moving average price is $1.31 and its 200-day moving average price is $1.23. Standard BioTools Inc. has a fifty-two week low of $0.92 and a fifty-two week high of $2.32. The company has a market cap of $454.57 million, a price-to-earnings ratio of -3.72 and a beta of 1.31.

Insider Buying and Selling at Standard BioTools

In other Standard BioTools news, Director Casdin Partners Master Fund, L purchased 100,000 shares of Standard BioTools stock in a transaction dated Tuesday, September 9th. The shares were purchased at an average cost of $1.29 per share, for a total transaction of $129,000.00. Following the completion of the acquisition, the director owned 60,875,000 shares in the company, valued at $78,528,750. This represents a 0.16% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders purchased 1,233,220 shares of company stock valued at $1,546,446 in the last quarter. Corporate insiders own 23.16% of the company’s stock.

Analyst Upgrades and Downgrades

LAB has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Standard BioTools in a research report on Wednesday, October 8th. Wall Street Zen upgraded Standard BioTools from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. TD Cowen downgraded Standard BioTools from a “buy” rating to a “hold” rating and set a $1.55 price objective on the stock. in a research report on Wednesday, August 13th. Finally, Cowen downgraded Standard BioTools from a “buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $1.55.

About Standard BioTools

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.