Standard BioTools (NASDAQ:LAB) Shares Up 5.6% – What’s Next?

Standard BioTools Inc. (NASDAQ:LAB) shares were up 5.6% on Tuesday . The stock traded as high as $1.58 and last traded at $1.5950. Approximately 262,256 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 1,983,099 shares. The stock had previously closed at $1.51.

Wall Street Analysts Forecast Growth

LAB has been the subject of a number of recent research reports. Wall Street Zen cut Standard BioTools from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Standard BioTools in a report on Wednesday, October 8th. Zacks Research raised Standard BioTools to a “hold” rating in a research note on Thursday, December 11th. Finally, TD Cowen dropped their target price on shares of Standard BioTools from $1.55 to $1.35 and set a “hold” rating on the stock in a research note on Wednesday, November 5th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Standard BioTools presently has a consensus rating of “Reduce” and a consensus price target of $1.35.

Standard BioTools Trading Up 9.6%

The company has a market capitalization of $636.46 million, a price-to-earnings ratio of -4.87 and a beta of 1.26. The company has a 50-day moving average of $1.38 and a 200-day moving average of $1.33.

Insider Activity

In related news, Director Casdin Partners Master Fund, L purchased 7,550,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was bought at an average cost of $1.30 per share, with a total value of $9,815,000.00. Following the completion of the acquisition, the director owned 71,750,000 shares of the company’s stock, valued at $93,275,000. The trade was a 11.76% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders bought 11,225,000 shares of company stock valued at $14,408,250. Insiders own 23.16% of the company’s stock.

Hedge Funds Weigh In On Standard BioTools

A number of large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in shares of Standard BioTools by 862.2% during the first quarter. AQR Capital Management LLC now owns 482,912 shares of the company’s stock worth $522,000 after purchasing an additional 432,725 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Standard BioTools by 11.4% during the first quarter. Rhumbline Advisers now owns 412,761 shares of the company’s stock worth $446,000 after buying an additional 42,247 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Standard BioTools by 67.0% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 45,297 shares of the company’s stock valued at $54,000 after buying an additional 18,178 shares during the last quarter. Savant Capital LLC lifted its stake in shares of Standard BioTools by 199.3% in the second quarter. Savant Capital LLC now owns 56,957 shares of the company’s stock worth $68,000 after buying an additional 37,926 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Standard BioTools by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 7,441,134 shares of the company’s stock valued at $8,931,000 after acquiring an additional 235,677 shares during the last quarter. 53.74% of the stock is currently owned by institutional investors and hedge funds.

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.