Standard BioTools Inc. (NASDAQ:LAB) Short Interest Update

Standard BioTools Inc. (NASDAQ:LAB) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 3,425,003 shares, a decline of 65.9% from the June 15th total of 10,029,339 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily volume of 6,850,088 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Investors Weigh In On Standard BioTools

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cibc World Markets Corp purchased a new stake in shares of Standard BioTools in the fourth quarter worth $25,000. Aigen Investment Management LP purchased a new stake in shares of Standard BioTools during the fourth quarter worth about $28,000. M&T Bank Corp bought a new position in Standard BioTools in the 4th quarter worth approximately $31,000. EntryPoint Capital LLC bought a new position in Standard BioTools in the 4th quarter worth approximately $31,000. Finally, Russell Investments Group Ltd. grew its holdings in Standard BioTools by 2,989.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 25,021 shares of the company’s stock valued at $33,000 after buying an additional 24,211 shares in the last quarter. Institutional investors own 53.74% of the company’s stock.

Standard BioTools Stock Up 0.5%

NASDAQ:LAB traded up $0.00 during mid-day trading on Wednesday, hitting $0.84. 2,907,165 shares of the company traded hands, compared to its average volume of 2,844,531. The stock’s fifty day moving average price is $0.94 and its 200-day moving average price is $1.08. The firm has a market cap of $328.57 million, a price-to-earnings ratio of 4.21 and a beta of 1.42. Standard BioTools has a one year low of $0.70 and a one year high of $1.72.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on LAB shares. Wall Street Zen raised shares of Standard BioTools from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings cut shares of Standard BioTools from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $1.35.

Standard BioTools Company Profile

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.