Casdin Partners Master Fund, L Acquires 150,000 Shares of Standard BioTools (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 business's stock in a transaction on 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 transaction, the director owned 59,750,000 shares in the company, valued at $72,895,000. This trade represents a 0.25% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

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

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

Standard BioTools Trading Down 3.1%

NASDAQ:LAB traded down $0.04 during trading hours on Wednesday, reaching $1.23. The company had a trading volume of 1,147,035 shares, compared to its average volume of 1,326,034. Standard BioTools Inc. has a 52 week low of $0.92 and a 52 week high of $2.32. The firm has a market cap of $469.85 million, a price-to-earnings ratio of -3.84 and a beta of 1.32. The firm's 50 day moving average price is $1.27 and its 200-day moving average price is $1.19.

Wall Street Analyst Weigh In

A number of research firms have commented on LAB. Wall Street Zen raised shares of Standard BioTools from a "sell" rating to a "hold" rating in a research report on Saturday. Cowen downgraded shares of Standard BioTools from a "buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Finally, TD Cowen downgraded shares of Standard BioTools from a "buy" rating to a "hold" rating and set a $1.55 price objective for the company. in a research report on Wednesday, August 13th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $1.55.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Standard BioTools by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 17,225,250 shares of the company's stock worth $18,603,000 after buying an additional 69,104 shares during the period. Geode Capital Management LLC boosted its holdings in Standard BioTools by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 7,441,134 shares of the company's stock worth $8,931,000 after buying an additional 235,677 shares during the period. Long Focus Capital Management LLC bought a new position in Standard BioTools in the 1st quarter worth $7,236,000. ARK Investment Management LLC boosted its holdings in Standard BioTools by 3.9% in the 1st quarter. ARK Investment Management LLC now owns 3,452,890 shares of the company's stock worth $3,729,000 after buying an additional 129,201 shares during the period. Finally, Mirabella Financial Services LLP boosted its holdings in Standard BioTools by 5.0% in the 2nd quarter. Mirabella Financial Services LLP now owns 3,434,387 shares of the company's stock worth $4,121,000 after buying an additional 163,714 shares during the period. Institutional investors own 53.74% of the company's stock.

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.