Standard BioTools (NASDAQ:LAB) Shares Down 5.9% – Here’s What Happened

Standard BioTools Inc. (NASDAQ:LAB)’s stock price was down 5.9% on Wednesday . The company traded as low as $1.90 and last traded at $1.90. Approximately 139,527 shares traded hands during trading, a decline of 94% from the average daily volume of 2,410,759 shares. The stock had previously closed at $2.02.

Analyst Ratings Changes

Separately, TD Cowen dropped their target price 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 Trading Down 4.2 %

The stock’s 50-day moving average is $1.84 and its 200-day moving average is $1.96. The stock has a market cap of $720.32 million, a P/E ratio of -2.85 and a beta of 1.61.

Institutional Investors Weigh In On Standard BioTools

Institutional investors and hedge funds have recently bought and sold shares of the business. Wolverine Trading LLC acquired a new stake in Standard BioTools in the 3rd quarter valued at about $27,000. Xponance Inc. purchased a new stake in Standard BioTools during the second quarter valued at about $34,000. Nisa Investment Advisors LLC lifted its stake in Standard BioTools by 433.8% during the third quarter. Nisa Investment Advisors LLC now owns 18,128 shares of the company’s stock valued at $35,000 after buying an additional 14,732 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Standard BioTools during the second quarter valued at about $39,000. Finally, Creative Planning purchased a new stake in Standard BioTools during the third quarter valued at about $39,000. 53.74% of the stock is owned by institutional investors and hedge funds.

Standard BioTools Company Profile

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.