Goldman Sachs Group Inc. Cuts Stock Position in Standard BioTools Inc. $LAB

Key Points

• Goldman Sachs Group Inc. decreased its stake in Standard BioTools Inc. by 42.3%, holding 676,529 shares worth approximately $731,000 after selling 496,941 shares in the first quarter.
• Several hedge funds, including Vanguard Group and ARK Investment Management, adjusted their positions in Standard BioTools during the first quarter, with Vanguard increasing its holdings to over $18 million.
• Analysts have mostly rated Standard BioTools as a "Hold"**, with a consensus price target of $1.55 following recent downgrades from TD Cowen.

Goldman Sachs Group Inc. trimmed its position in shares of Standard BioTools Inc. (NASDAQ:LAB - Free Report) by 42.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 676,529 shares of the company's stock after selling 496,941 shares during the period. Goldman Sachs Group Inc. owned about 0.18% of Standard BioTools worth $731,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of LAB. Vanguard Group Inc. grew its position in Standard BioTools by 0.4% during the first quarter. Vanguard Group Inc. now owns 17,225,250 shares of the company's stock valued at $18,603,000 after acquiring an additional 69,104 shares during the last quarter. Long Focus Capital Management LLC bought a new stake in shares of Standard BioTools in the 1st quarter worth approximately $7,236,000. ARK Investment Management LLC boosted its stake in shares of Standard BioTools by 3.9% in the 1st quarter. ARK Investment Management LLC now owns 3,452,890 shares of the company's stock valued at $3,729,000 after purchasing an additional 129,201 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Standard BioTools by 4.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,443,060 shares of the company's stock valued at $2,639,000 after purchasing an additional 110,411 shares during the last quarter. Finally, Royce & Associates LP grew its holdings in shares of Standard BioTools by 37.4% during the 1st quarter. Royce & Associates LP now owns 2,000,503 shares of the company's stock valued at $2,161,000 after purchasing an additional 545,000 shares during the last quarter. Institutional investors own 53.74% of the company's stock.

Insider Buying and Selling

In other Standard BioTools news, Director Casdin Partners Master Fund, L acquired 100,000 shares of the business's stock in a transaction on Tuesday, September 9th. The shares were acquired at an average price of $1.29 per share, for a total transaction of $129,000.00. Following the completion of the acquisition, the director owned 60,875,000 shares in the company, valued at $78,528,750. This trade represents a 0.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought a total of 1,233,220 shares of company stock worth $1,546,446 over the last 90 days. Insiders own 23.16% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on LAB shares. TD Cowen downgraded shares of Standard BioTools from a "buy" rating to a "hold" rating and set a $1.55 price target for the company. in a research note on Wednesday, August 13th. Wall Street Zen raised Standard BioTools from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Cowen cut Standard BioTools from a "buy" rating to a "hold" rating in a report on Wednesday, August 13th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Standard BioTools currently has an average rating of "Hold" and a consensus target price of $1.55.

Standard BioTools Trading Down 1.4%

Shares of LAB stock opened at $1.38 on Wednesday. The company's fifty day moving average price is $1.31 and its 200-day moving average price is $1.20. The stock has a market cap of $527.15 million, a PE ratio of -4.31 and a beta of 1.29. Standard BioTools Inc. has a 12 month low of $0.92 and a 12 month high of $2.32.

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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