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

Shares of Standard BioTools Inc. (NASDAQ:LAB) have been assigned an average rating of “Reduce” from the five research firms that are covering the stock, MarketBeat Ratings 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 twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $1.35.

A number of equities analysts have recently commented on LAB shares. TD Cowen cut 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. Wall Street Zen cut shares of Standard BioTools from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Standard BioTools in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of Standard BioTools to a “hold” rating in a research note on Thursday, December 11th.

Insider Buying and Selling

In other news, Director Casdin Partners Master Fund, L purchased 7,550,000 shares of Standard BioTools stock in a transaction on Tuesday, November 25th. The shares were purchased at an average cost of $1.30 per share, for a total transaction 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders purchased 11,225,000 shares of company stock valued at $14,408,250. Corporate insiders own 23.16% of the company’s stock.

Institutional Investors Weigh In On Standard BioTools

Large investors have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. bought a new position in Standard BioTools in the third quarter valued at about $41,000. GM Advisory Group LLC lifted its position in shares of Standard BioTools by 50.0% during the third quarter. GM Advisory Group LLC now owns 300,000 shares of the company’s stock valued at $390,000 after purchasing an additional 100,000 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Standard BioTools by 405.6% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 108,603 shares of the company’s stock valued at $137,000 after purchasing an additional 87,123 shares during the last quarter. Long Focus Capital Management LLC raised its holdings in shares of Standard BioTools by 12.8% in 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 period. Finally, Mak Capital One LLC lifted its stake 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 buying an additional 10,334,384 shares in the last quarter. Institutional investors and hedge funds own 53.74% of the company’s stock.

Standard BioTools Price Performance

NASDAQ LAB opened at $1.51 on Friday. Standard BioTools has a 1-year low of $0.92 and a 1-year high of $2.25. The company has a market cap of $580.70 million, a PE ratio of -4.44 and a beta of 1.23. The stock’s 50 day simple moving average is $1.32 and its 200-day simple moving average is $1.28.

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.