Standard BioTools Inc. (NASDAQ:LAB) Given Average Recommendation of “Reduce” by Analysts

Standard BioTools Inc. (NASDAQ:LAB) has earned an average recommendation of “Reduce” from the five research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $1.35.

A number of analysts recently commented on LAB shares. Weiss Ratings restated a “sell (d-)” rating on shares of Standard BioTools in a research note on Wednesday, October 8th. Wall Street Zen cut Standard BioTools from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Zacks Research upgraded Standard BioTools to a “hold” rating in a research note on Thursday. Finally, TD Cowen cut their target price on Standard BioTools from $1.55 to $1.35 and set a “hold” rating for the company in a research note on Wednesday, November 5th.

Standard BioTools Stock Down 2.0%

NASDAQ LAB opened at $1.45 on Friday. The company has a market cap of $557.63 million, a PE ratio of -4.26 and a beta of 1.24. Standard BioTools has a 52 week low of $0.92 and a 52 week high of $2.25. The firm’s 50-day simple moving average is $1.32 and its two-hundred day simple moving average is $1.28.

Insider Activity at Standard BioTools

In other news, Director Casdin Partners Master Fund, L acquired 7,550,000 shares of Standard BioTools stock in a transaction that occurred on Tuesday, November 25th. The stock was bought at an average price of $1.30 per share, with a total value of $9,815,000.00. Following the completion of the purchase, the director owned 71,750,000 shares in the company, valued at approximately $93,275,000. The trade was a 11.76% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders have purchased 11,225,000 shares of company stock valued at $14,408,250 in the last three months. 23.16% of the stock is currently owned by company insiders.

Institutional Trading of Standard BioTools

Several institutional investors and hedge funds have recently made changes to their positions in LAB. Vanguard Group Inc. increased its stake in Standard BioTools by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 17,225,250 shares of the company’s stock worth $18,603,000 after purchasing an additional 69,104 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Standard BioTools by 4.7% in 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 acquiring an additional 110,411 shares during the period. Nuveen LLC bought a new position in shares of Standard BioTools during the first quarter valued at about $862,000. HighTower Advisors LLC raised its position in Standard BioTools by 10.8% during the 1st quarter. HighTower Advisors LLC now owns 102,791 shares of the company’s stock valued at $111,000 after purchasing an additional 10,000 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Standard BioTools in the first quarter valued at $274,000. Hedge funds and other institutional investors own 53.74% of the company’s stock.

Standard BioTools Company Profile

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.