Standard BioTools (NASDAQ:LAB) Stock Price Down 6.1% – What’s Next?

Standard BioTools Inc. (NASDAQ:LAB) traded down 6.1% during mid-day trading on Friday . The stock traded as low as $1.39 and last traded at $1.38. 1,130,947 shares traded 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.

Analyst Upgrades and Downgrades

LAB has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Standard BioTools in a report on Wednesday, October 8th. Zacks Research upgraded shares of Standard BioTools to a “hold” rating in a research note on Thursday, December 11th. Wall Street Zen cut shares of Standard BioTools from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Finally, TD Cowen reduced their price objective 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. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $1.35.

Standard BioTools Trading Down 6.1%

The stock has a fifty day simple moving average of $1.36 and a 200-day simple moving average of $1.31. The stock has a market cap of $531.08 million, a price-to-earnings ratio of -4.06 and a beta of 1.24.

Insiders Place Their Bets

In other news, Director Casdin Partners Master Fund, L purchased 150,000 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were purchased at an average cost of $1.45 per share, for a total transaction of $217,500.00. Following the completion of the purchase, the director directly owned 72,100,000 shares of the company’s stock, valued at approximately $104,545,000. The trade was a 0.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 11,225,000 shares of company stock worth $14,408,250 over the last 90 days. 23.16% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of LAB. Jump Financial LLC acquired a new position in Standard BioTools during the 1st quarter valued at about $26,000. Russell Investments Group Ltd. grew its holdings in Standard BioTools by 2,989.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 25,021 shares of the company’s stock worth $33,000 after acquiring an additional 24,211 shares during the period. Federated Hermes Inc. raised its position in shares of Standard BioTools by 103.6% during the 3rd quarter. Federated Hermes Inc. now owns 28,545 shares of the company’s stock valued at $37,000 after acquiring an additional 14,523 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Standard BioTools by 50.3% in the second quarter. BNP Paribas Financial Markets now owns 29,826 shares of the company’s stock valued at $36,000 after buying an additional 9,986 shares during the period. Finally, CIBC Bancorp USA Inc. bought a new position in Standard BioTools during the 3rd quarter worth approximately $41,000. 53.74% of the stock is currently owned by institutional investors and hedge funds.

About Standard BioTools

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.