Long Focus Capital Management LLC Acquires Shares of 6,700,000 Standard BioTools Inc. $LAB

Key Points

• Long Focus Capital Management LLC has acquired a new position in Standard BioTools Inc., purchasing 6.7 million shares valued at approximately $7.2 million, representing about 1.76% ownership of the company.
• Analysts have given Standard BioTools an average rating of "Hold," with TD Cowen downgrading the stock and setting a price target of $1.55.
• Insider activity has increased, with directors purchasing over 883,000 shares in the last 90 days, indicating ongoing confidence in the company's prospects.

Long Focus Capital Management LLC acquired a new position in shares of Standard BioTools Inc. (NASDAQ:LAB - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,700,000 shares of the company's stock, valued at approximately $7,236,000. Long Focus Capital Management LLC owned approximately 1.76% of Standard BioTools at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 worth $295,000 after acquiring an additional 7,304 shares in the last quarter. HighTower Advisors LLC raised its holdings 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 acquiring an additional 10,000 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Standard BioTools by 7.5% during the 4th quarter. Invesco Ltd. now owns 175,041 shares of the company's stock worth $306,000 after acquiring an additional 12,194 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in shares of Standard BioTools by 115.6% during the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 27,119 shares of the company's stock worth $29,000 after acquiring an additional 14,541 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Standard BioTools by 101.8% during the 1st quarter. CWM LLC now owns 29,705 shares of the company's stock worth $32,000 after acquiring an additional 14,984 shares in the last quarter. 53.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Standard BioTools Trading Up 4.0%

Shares of NASDAQ LAB traded up $0.05 during trading hours on Wednesday, hitting $1.29. 1,538,607 shares of the company traded hands, compared to its average volume of 1,720,182. The stock has a market capitalization of $492.77 million, a price-to-earnings ratio of -4.03 and a beta of 1.29. The company's 50 day moving average price is $1.30 and its 200 day moving average price is $1.18. Standard BioTools Inc. has a 12 month low of $0.92 and a 12 month high of $2.32.

Insider Buying and Selling

In other Standard BioTools news, Director Casdin Partners Master Fund, L acquired 200,000 shares of the business's stock in a transaction on Monday, August 25th. The shares were bought at an average price of $1.24 per share, with a total value of $248,000.00. Following the transaction, the director directly owned 60,150,000 shares of the company's stock, valued at $74,586,000. The trade was a 0.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Over the last 90 days, insiders acquired 883,220 shares of company stock valued at $1,099,946. Corporate insiders own 23.16% of the company's stock.

Standard BioTools 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.