Standard BioTools (NASDAQ:LAB) Upgraded by Zacks Research to “Hold” Rating

by · The Markets Daily

Zacks Research upgraded shares of Standard BioTools (NASDAQ:LAB – Free Report) to a hold rating in a research note released on Thursday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on LAB. Wall Street Zen cut Standard BioTools from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Cowen cut Standard BioTools from a “buy” rating to a “hold” rating in a research report on Wednesday, August 13th. TD Cowen lowered 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Standard BioTools in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $1.35.

Read Our Latest Research Report on LAB

Standard BioTools Stock Down 2.0%

Shares of NASDAQ LAB traded down $0.03 during trading on Thursday, hitting $1.45. The company had a trading volume of 958,392 shares, compared to its average volume of 1,912,300. The firm has a market capitalization of $557.63 million, a price-to-earnings ratio of -4.26 and a beta of 1.24. The stock has a fifty day simple moving average of $1.32 and a two-hundred day simple moving average of $1.28. Standard BioTools has a fifty-two week low of $0.92 and a fifty-two week high of $2.25.

Insider Buying and Selling at Standard BioTools

In other news, Director Casdin Partners Master Fund, L acquired 7,550,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was purchased at an average price 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. This trade represents a 11.76% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have bought 11,225,000 shares of company stock worth $14,408,250. Insiders own 23.16% of the company’s stock.

Institutional Trading of Standard BioTools

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Jump Financial LLC acquired a new position in Standard BioTools in the first quarter valued at approximately $26,000. Russell Investments Group Ltd. raised its position 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 valued at $33,000 after purchasing an additional 24,211 shares during the period. BNP Paribas Financial Markets raised its position 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 purchasing an additional 9,986 shares during the period. Federated Hermes Inc. lifted its stake in shares of Standard BioTools by 103.6% in the 3rd quarter. Federated Hermes Inc. now owns 28,545 shares of the company’s stock valued at $37,000 after purchasing an additional 14,523 shares during the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of Standard BioTools during the 3rd quarter worth $41,000. Institutional investors and hedge funds own 53.74% of the company’s stock.

About Standard BioTools

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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.

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