Pacific Capital Partners Ltd Cuts Stake in Standard BioTools Inc. $LAB

Pacific Capital Partners Ltd cut its stake in Standard BioTools Inc. (NASDAQ:LAB) by 12.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,375,000 shares of the company’s stock after selling 200,000 shares during the quarter. Standard BioTools accounts for about 1.5% of Pacific Capital Partners Ltd’s portfolio, making the stock its 22nd largest position. Pacific Capital Partners Ltd’s holdings in Standard BioTools were worth $1,650,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Standard BioTools by 0.4% in the first quarter. Vanguard Group Inc. now owns 17,225,250 shares of the company’s stock valued at $18,603,000 after purchasing an additional 69,104 shares during the period. Long Focus Capital Management LLC acquired a new stake in shares of Standard BioTools during the first quarter valued at about $7,236,000. ARK Investment Management LLC grew its stake in shares of Standard BioTools by 3.9% during the first quarter. ARK Investment Management LLC now owns 3,452,890 shares of the company’s stock valued at $3,729,000 after acquiring an additional 129,201 shares in the last quarter. Northern Trust Corp grew its stake in shares of Standard BioTools by 9.3% during the fourth quarter. Northern Trust Corp now owns 2,875,160 shares of the company’s stock valued at $5,032,000 after acquiring an additional 243,522 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Standard BioTools by 4.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,443,060 shares of the company’s stock valued at $2,639,000 after acquiring an additional 110,411 shares in the last quarter. 53.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LAB has been the subject of several recent analyst reports. Wall Street Zen upgraded Standard BioTools from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Cowen downgraded Standard BioTools from a “buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Finally, TD Cowen downgraded Standard BioTools from a “buy” rating to a “hold” rating and set a $1.55 target price for the company. in a research note on Wednesday, August 13th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $1.55.

Insider Buying and Selling

In other news, Director Casdin Partners Master Fund, L purchased 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was acquired at an average cost of $1.27 per share, for a total transaction of $317,500.00. Following the completion of the purchase, the director owned 60,525,000 shares of the company’s stock, valued at approximately $76,866,750. This trade represents a 0.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 1,233,220 shares of company stock valued at $1,546,446 in the last three months. 23.16% of the stock is currently owned by company insiders.

Standard BioTools Stock Performance

NASDAQ:LAB opened at $1.29 on Friday. The company has a market capitalization of $492.77 million, a price-to-earnings ratio of -4.03 and a beta of 1.29. Standard BioTools Inc. has a one year low of $0.92 and a one year high of $2.32. The stock has a 50-day simple moving average of $1.30 and a 200 day simple moving average of $1.18.

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.