Standard BioTools (NASDAQ:LAB) Price Target Cut to $1.35 by Analysts at TD Cowen

Standard BioTools (NASDAQ:LAB) had its price target cut by TD Cowen from $1.55 to $1.35 in a report issued on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

Several other analysts have also recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Standard BioTools in a report on Wednesday, October 8th. Wall Street Zen raised Standard BioTools from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Cowen cut Standard BioTools from a “buy” rating to a “hold” rating in a report on Wednesday, August 13th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Standard BioTools presently has a consensus rating of “Reduce” and an average price target of $1.35.

Standard BioTools Trading Down 4.2%

NASDAQ LAB opened at $1.14 on Wednesday. The stock’s 50 day moving average is $1.30 and its 200 day moving average is $1.23. Standard BioTools has a 12 month low of $0.92 and a 12 month high of $2.32. The stock has a market cap of $435.47 million, a PE ratio of -3.56 and a beta of 1.25.

Insider Buying and Selling at Standard BioTools

In related news, Director Casdin Partners Master Fund, L bought 250,000 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were purchased at an average price of $1.27 per share, with a total value of $317,500.00. Following the transaction, the director owned 60,525,000 shares in the company, valued at $76,866,750. This trade represents a 0.41% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders purchased 1,233,220 shares of company stock worth $1,546,446. Insiders own 23.16% of the company’s stock.

Hedge Funds Weigh In On Standard BioTools

Several hedge funds have recently bought and sold shares of LAB. Teacher Retirement System of Texas bought a new position in Standard BioTools in the 1st quarter valued at $35,000. CWM LLC grew its position in Standard BioTools by 101.8% in the 1st quarter. CWM LLC now owns 29,705 shares of the company’s stock valued at $32,000 after acquiring an additional 14,984 shares during the last quarter. Impact Partnership Wealth LLC bought a new position in Standard BioTools in the 1st quarter valued at $58,000. Royce & Associates LP grew its position in Standard BioTools by 37.4% in the 1st quarter. Royce & Associates LP now owns 2,000,503 shares of the company’s stock valued at $2,161,000 after acquiring an additional 545,000 shares during the last quarter. Finally, ARK Investment Management LLC grew its position in Standard BioTools by 3.9% in the 1st quarter. ARK Investment Management LLC now owns 3,452,890 shares of the company’s stock valued at $3,729,000 after acquiring an additional 129,201 shares during the last quarter. Institutional investors own 53.74% of the company’s stock.

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.