Casdin Partners Master Fund, L Purchases 150,000 Shares of Standard BioTools Inc. (NASDAQ:LAB) Stock

Key Points

• Casdin Partners Master Fund, L acquired 150,000 shares of Standard BioTools Inc. stock at an average cost of $1.22 per share, increasing their total holdings to 59,750,000 shares, valued at approximately $72.9 million.
• The firm's stock price rose by 0.8%, reaching $1.23 per share during midday trading, with a market capitalization of $467.18 million.
• Analysts from TD Cowen recently downgraded Standard BioTools from a "buy" to a "hold" rating, setting a target price of $1.55.

Standard BioTools Inc. (NASDAQ:LAB - Get Free Report) Director Casdin Partners Master Fund, L bought 150,000 shares of the company's stock in a transaction dated Friday, August 15th. The stock was bought at an average cost of $1.22 per share, with a total value of $183,000.00. Following the completion of the acquisition, the director owned 59,750,000 shares in the company, valued at $72,895,000. This represents a 0.25% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Casdin Partners Master Fund, L also recently made the following trade(s):

• On Thursday, August 14th, Casdin Partners Master Fund, L purchased 133,220 shares of Standard BioTools stock. The shares were bought at an average cost of $1.21 per share, for a total transaction of $161,196.20.
• On Wednesday, August 13th, Casdin Partners Master Fund, L purchased 75,000 shares of Standard BioTools stock. The stock was purchased at an average price of $1.31 per share, for a total transaction of $98,250.00.

Standard BioTools Stock Up 0.8%

Shares of NASDAQ LAB traded up $0.01 during midday trading on Friday, hitting $1.23. 1,009,578 shares of the company's stock were exchanged, compared to its average volume of 1,382,492. The firm has a market capitalization of $467.18 million, a PE ratio of -3.84 and a beta of 1.32. Standard BioTools Inc. has a 12 month low of $0.92 and a 12 month high of $2.32. The company's 50 day moving average price is $1.26 and its 200 day moving average price is $1.20.

Institutional Investors Weigh In On Standard BioTools

A number of institutional investors have recently modified their holdings of LAB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Standard BioTools by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 168,777 shares of the company's stock valued at $295,000 after purchasing an additional 7,304 shares during the last quarter. Intech Investment Management LLC increased its stake in Standard BioTools by 6.1% in the 2nd quarter. Intech Investment Management LLC now owns 149,018 shares of the company's stock valued at $179,000 after buying an additional 8,519 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Standard BioTools by 50.3% during the second quarter. BNP Paribas Financial Markets now owns 29,826 shares of the company's stock worth $36,000 after acquiring an additional 9,986 shares during the period. HighTower Advisors LLC raised its stake in shares of Standard BioTools by 10.8% during the 1st quarter. HighTower Advisors LLC now owns 102,791 shares of the company's stock worth $111,000 after purchasing an additional 10,000 shares during the period. Finally, Invesco Ltd. boosted its stake in Standard BioTools by 7.5% in the fourth quarter. Invesco Ltd. now owns 175,041 shares of the company's stock valued at $306,000 after acquiring an additional 12,194 shares during the last quarter. Institutional investors own 53.74% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LAB shares. TD Cowen lowered Standard BioTools from a "buy" rating to a "hold" rating and set a $1.55 target price for the company. in a research report on Wednesday. Cowen cut shares of Standard BioTools from a "buy" rating to a "hold" rating in a research report on Wednesday.

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.

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