Standard BioTools (NASDAQ:LAB) Trading Down 5.9% – Here’s Why

Shares of Standard BioTools Inc. (NASDAQ:LAB) traded down 5.9% during trading on Wednesday . The stock traded as low as $1.92 and last traded at $1.93. 699,709 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 2,461,302 shares. The stock had previously closed at $2.05.

Analysts Set New Price Targets

Separately, TD Cowen cut their price target on shares of Standard BioTools from $2.75 to $2.50 and set a “buy” rating on the stock in a report on Thursday, October 31st.

Standard BioTools Stock Down 7.6 %

The stock has a 50 day moving average of $1.93 and a two-hundred day moving average of $2.07.

Insider Buying and Selling

In other news, Director Casdin Partners Master Fund, L bought 150,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was acquired at an average price of $2.15 per share, for a total transaction of $322,500.00. Following the transaction, the director now directly owns 53,775,821 shares of the company’s stock, valued at $115,618,015.15. This trade represents a 0.28 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders acquired 1,192,100 shares of company stock valued at $2,357,173 over the last quarter. Corporate insiders own 53.10% of the company’s stock.

Institutional Trading of Standard BioTools

Institutional investors have recently bought and sold shares of the business. Freestone Capital Holdings LLC acquired a new position in Standard BioTools in the first quarter valued at about $31,000. Xponance Inc. acquired a new stake in shares of Standard BioTools in the 2nd quarter valued at approximately $34,000. Nisa Investment Advisors LLC boosted its stake in Standard BioTools by 433.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 18,128 shares of the company’s stock worth $35,000 after acquiring an additional 14,732 shares during the last quarter. Shell Asset Management Co. bought a new stake in Standard BioTools in the first quarter valued at approximately $39,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Standard BioTools in the 2nd quarter valued at $39,000. 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.