Standard BioTools (NASDAQ:LAB) Stock Price Down 6.1% – Here’s Why

Standard BioTools Inc. (NASDAQ:LAB)’s stock price traded down 6.1% during trading on Friday . The company traded as low as $1.39 and last traded at $1.38. 1,130,947 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 1,687,540 shares. The stock had previously closed at $1.47.

Wall Street Analysts Forecast Growth

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. TD Cowen decreased 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. Wall Street Zen lowered shares of Standard BioTools from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Finally, Zacks Research raised shares of Standard BioTools to a “hold” rating in a research note on Thursday, December 11th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $1.35.

Standard BioTools Stock Performance

The stock has a fifty day moving average of $1.36 and a 200-day moving average of $1.31. The company has a market cap of $530.71 million, a PE ratio of -4.06 and a beta of 1.24.

Insider Activity

In related news, Director Casdin Partners Master Fund, L purchased 150,000 shares of Standard BioTools stock in a transaction that occurred on Thursday, December 4th. The shares were bought at an average price of $1.45 per share, with a total value of $217,500.00. Following the purchase, the director directly owned 72,100,000 shares of the company’s stock, valued at approximately $104,545,000. This represents a 0.21% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired 11,225,000 shares of company stock worth $14,408,250 over the last ninety days. 23.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Standard BioTools

A number of hedge funds have recently added to or reduced their stakes in LAB. Jump Financial LLC purchased a new position in shares of Standard BioTools during the first quarter worth approximately $26,000. Russell Investments Group Ltd. grew its stake in 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 purchasing an additional 24,211 shares in the last quarter. Federated Hermes Inc. increased its holdings 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 during the period. BNP Paribas Financial Markets raised its position in Standard BioTools by 50.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 29,826 shares of the company’s stock valued at $36,000 after purchasing an additional 9,986 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in Standard BioTools during the 3rd quarter valued at $41,000. 53.74% of the stock is currently owned by institutional investors.

Standard BioTools Company 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.