Standard BioTools (NASDAQ:LAB) Shares Gap Up – Here’s Why
by Danessa Lincoln · The Markets DailyStandard BioTools Inc. (NASDAQ:LAB – Get Free Report)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $1.28, but opened at $1.39. Standard BioTools shares last traded at $1.4150, with a volume of 1,247,732 shares changing hands.
Wall Street Analyst Weigh In
LAB has been the subject of a number of analyst reports. Wall Street Zen cut shares of Standard BioTools from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. TD Cowen decreased their target price on Standard BioTools from $1.55 to $1.35 and set a “hold” rating on the stock in a research note on Wednesday, November 5th. Zacks Research raised Standard BioTools to a “hold” rating in a report on Thursday, December 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Standard BioTools in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $1.35.
View Our Latest Analysis on Standard BioTools
Standard BioTools Price Performance
The company has a market cap of $592.24 million, a P/E ratio of -4.53 and a beta of 1.26. The firm’s 50-day moving average is $1.37 and its two-hundred day moving average is $1.33.
Insider Activity at Standard BioTools
In other Standard BioTools news, Director Casdin Partners Master Fund, L purchased 7,550,000 shares of Standard BioTools stock in a transaction dated Tuesday, November 25th. The shares were purchased at an average cost of $1.30 per share, for a total transaction of $9,815,000.00. Following the completion of the acquisition, the director owned 71,750,000 shares in the company, valued at $93,275,000. This represents a 11.76% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders purchased a total of 11,225,000 shares of company stock worth $14,408,250 over the last quarter. Corporate insiders own 23.16% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LAB. Casdin Capital LLC raised its holdings in shares of Standard BioTools by 1.9% in the 3rd quarter. Casdin Capital LLC now owns 77,558,856 shares of the company’s stock valued at $100,827,000 after purchasing an additional 1,483,220 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Standard BioTools by 1.6% during the third quarter. Vanguard Group Inc. now owns 17,245,583 shares of the company’s stock valued at $22,419,000 after purchasing an additional 263,845 shares in the last quarter. Mak Capital One LLC increased its holdings in Standard BioTools by 184.6% during the third quarter. Mak Capital One LLC now owns 15,931,806 shares of the company’s stock valued at $20,711,000 after buying an additional 10,334,384 shares during the period. Long Focus Capital Management LLC raised its stake in Standard BioTools by 12.8% in the third quarter. Long Focus Capital Management LLC now owns 11,362,804 shares of the company’s stock worth $14,772,000 after buying an additional 1,292,804 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Standard BioTools by 3.3% in the second quarter. Geode Capital Management LLC now owns 7,441,134 shares of the company’s stock worth $8,931,000 after buying an additional 235,677 shares in the last quarter. 53.74% of the stock is currently owned by institutional investors.
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.