Standard BioTools (NASDAQ:LAB) Rating Increased to Hold at Wall Street Zen

Standard BioTools (NASDAQ:LAB) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other equities analysts have also issued reports about the stock. Cowen lowered shares of Standard BioTools from a “buy” rating to a “hold” rating in a research report on Wednesday. TD Cowen lowered shares of Standard BioTools from a “buy” rating to a “hold” rating and set a $1.55 price objective on the stock. in a research report on Wednesday.

Standard BioTools Price Performance

NASDAQ:LAB opened at $1.23 on Friday. The firm’s fifty day moving average price is $1.26 and its 200 day moving average price is $1.20. Standard BioTools has a 1-year low of $0.92 and a 1-year high of $2.32. The firm has a market cap of $467.18 million, a price-to-earnings ratio of -3.84 and a beta of 1.32.

Insiders Place Their Bets

In other Standard BioTools news, Director Casdin Partners Master Fund, L bought 150,000 shares of Standard BioTools stock in a transaction on Friday, August 15th. The stock was bought at an average price of $1.22 per share, with a total value of $183,000.00. Following the completion of the acquisition, the director owned 59,750,000 shares in the company, valued at $72,895,000. The trade was a 0.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have acquired 358,220 shares of company stock valued at $442,446 and have sold 58,089 shares valued at $57,451. 23.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Standard BioTools

A number of hedge funds and other institutional investors have recently bought and sold shares of LAB. Jump Financial LLC acquired a new stake in Standard BioTools in the first quarter valued at $26,000. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in Standard BioTools by 115.6% in the first quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 27,119 shares of the company’s stock valued at $29,000 after acquiring an additional 14,541 shares during the period. Two Sigma Securities LLC acquired a new stake in Standard BioTools in the fourth quarter valued at $30,000. CWM LLC lifted its holdings in Standard BioTools by 101.8% in the first quarter. CWM LLC now owns 29,705 shares of the company’s stock valued at $32,000 after acquiring an additional 14,984 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in shares of Standard BioTools during the 1st quarter worth $35,000. Institutional investors and hedge funds own 53.74% of the company’s stock.

About Standard BioTools

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.