Standard BioTools Inc. (NASDAQ:LAB) Stake Boosted by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP significantly increased its stake in Standard BioTools Inc. by 369.2% during the first quarter, purchasing an additional 478,922 shares to reach a total of 608,656 shares valued at $657,000.
• Multiple hedge funds, including MIRAE ASSET GLOBAL ETFS HOLDINGS and HighTower Advisors, have also boosted their investments in Standard BioTools, indicating growing institutional interest in the company.
• Standard BioTools has received a new "strong-buy" rating from TD Cowen, reflecting positive sentiment among analysts regarding the company's stock performance.

GSA Capital Partners LLP raised its holdings in Standard BioTools Inc. (NASDAQ:LAB - Free Report) by 369.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 608,656 shares of the company's stock after purchasing an additional 478,922 shares during the quarter. GSA Capital Partners LLP owned 0.16% of Standard BioTools worth $657,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. ARK Investment Management LLC grew its position in Standard BioTools by 3.9% during the 1st quarter. ARK Investment Management LLC now owns 3,452,890 shares of the company's stock worth $3,729,000 after purchasing an additional 129,201 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of Standard BioTools by 37.4% in the first 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 in the last quarter. Impact Partnership Wealth LLC purchased a new position in shares of Standard BioTools during the first quarter valued at approximately $58,000. CWM LLC lifted its stake in shares of Standard BioTools by 101.8% during the first quarter. CWM LLC now owns 29,705 shares of the company's stock valued at $32,000 after buying an additional 14,984 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in shares of Standard BioTools during the first quarter valued at approximately $35,000. 53.74% of the stock is owned by hedge funds and other institutional investors.

Standard BioTools Price Performance

Standard BioTools stock traded up $0.02 during mid-day trading on Thursday, reaching $1.30. The stock had a trading volume of 331,866 shares, compared to its average volume of 1,774,798. The company has a 50-day moving average price of $1.22 and a two-hundred day moving average price of $1.22. The company has a market capitalization of $491.87 million, a price-to-earnings ratio of -3.70 and a beta of 1.32. Standard BioTools Inc. has a one year low of $0.92 and a one year high of $2.32.

Analysts Set New Price Targets

Separately, TD Cowen raised shares of Standard BioTools to a "strong-buy" rating in a research note on Thursday, July 17th.

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.