Standard BioTools (NASDAQ:LAB) Sees Large Volume Increase – Still a Buy?

Standard BioTools Inc. (NASDAQ:LAB) shares saw unusually-strong trading volume on Tuesday . Approximately 9,461,650 shares were traded during trading, an increase of 457% from the previous session’s volume of 1,698,891 shares.The stock last traded at $1.3750 and had previously closed at $1.42.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Cowen downgraded Standard BioTools from a “buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Standard BioTools in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Standard BioTools from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Finally, TD Cowen lowered their price target on Standard BioTools from $1.55 to $1.35 and set a “hold” rating on the stock in a research note on Wednesday, November 5th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $1.35.

Standard BioTools Trading Up 0.7%

The company has a 50 day moving average of $1.29 and a 200 day moving average of $1.24. The firm has a market cap of $549.93 million, a price-to-earnings ratio of -4.47 and a beta of 1.25.

Insider Activity

In related news, Director Casdin Partners Master Fund, L acquired 7,550,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was purchased at an average price of $1.30 per share, for a total transaction of $9,815,000.00. Following the transaction, the director directly owned 71,750,000 shares of the company’s stock, valued at approximately $93,275,000. This trade represents a 11.76% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have purchased 11,225,000 shares of company stock worth $14,351,750 in the last quarter. 23.16% of the stock is currently owned by corporate insiders.

Institutional Trading of Standard BioTools

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new position in shares of Standard BioTools in the 1st quarter valued at $26,000. Russell Investments Group Ltd. boosted its holdings in shares of Standard BioTools by 2,989.0% in the third 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 during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in Standard BioTools by 115.6% during the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 27,119 shares of the company’s stock worth $29,000 after purchasing an additional 14,541 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Standard BioTools by 103.6% during the 3rd quarter. Federated Hermes Inc. now owns 28,545 shares of the company’s stock worth $37,000 after acquiring an additional 14,523 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Standard BioTools by 101.8% during the 1st quarter. CWM LLC now owns 29,705 shares of the company’s stock worth $32,000 after buying an additional 14,984 shares during the last quarter. 53.74% of the stock is currently 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.