Standard BioTools (NASDAQ:LAB) Shares Gap Up – Should You Buy?

Shares of Standard BioTools Inc. (NASDAQ:LAB) gapped up prior to trading on Thursday . The stock had previously closed at $1.28, but opened at $1.39. Standard BioTools shares last traded at $1.4150, with a volume of 1,247,732 shares trading hands.

Analyst Ratings Changes

LAB has been the subject of several analyst reports. Wall Street Zen cut Standard BioTools from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. TD Cowen dropped their price target on Standard BioTools from $1.55 to $1.35 and set a “hold” rating for the company in a research note on Wednesday, November 5th. Zacks Research upgraded shares of Standard BioTools to a “hold” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Standard BioTools in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Standard BioTools presently has a consensus rating of “Reduce” and a consensus target price of $1.35.

Standard BioTools Stock Up 16.8%

The stock has a market cap of $574.93 million, a price-to-earnings ratio of -4.40 and a beta of 1.26. The company has a 50 day simple moving average of $1.36 and a 200 day simple moving average of $1.32.

Insider Transactions at Standard BioTools

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 acquired at an average price of $1.30 per share, with a total value of $9,815,000.00. Following the purchase, the director directly owned 71,750,000 shares in the company, valued at approximately $93,275,000. This trade represents a 11.76% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have purchased 11,225,000 shares of company stock worth $14,408,250. 23.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Standard BioTools

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its stake in shares of Standard BioTools by 2,989.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 25,021 shares of the company’s stock valued at $33,000 after purchasing an additional 24,211 shares during the period. Federated Hermes Inc. increased its holdings in Standard BioTools by 103.6% in the third quarter. Federated Hermes Inc. now owns 28,545 shares of the company’s stock worth $37,000 after purchasing an additional 14,523 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Standard BioTools by 50.3% in the second quarter. BNP Paribas Financial Markets now owns 29,826 shares of the company’s stock valued at $36,000 after buying an additional 9,986 shares during the period. CIBC Bancorp USA Inc. bought a new position in shares of Standard BioTools during the 3rd quarter worth approximately $41,000. Finally, SG Americas Securities LLC grew its position in shares of Standard BioTools by 167.8% during the 3rd quarter. SG Americas Securities LLC now owns 33,039 shares of the company’s stock worth $43,000 after buying an additional 20,700 shares during the period. 53.74% of the stock is currently owned by institutional investors and hedge funds.

About Standard BioTools

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.