Pacific Capital Partners Ltd Buys New Holdings in Standard BioTools Inc. (NASDAQ:LAB)

Key Points

• Pacific Capital Partners Ltd has acquired 1,575,000 shares of Standard BioTools Inc., valued at approximately $1.7 million, marking it as the firm's 26th largest position.
• Analysts have upgraded Standard BioTools to a "strong-buy" rating, indicating positive sentiment towards the company's potential growth.
• Standard BioTools has a current market capitalization of $527.95 million, with shares trading between a fifty-two week low of $0.92 and a high of $2.35.

Pacific Capital Partners Ltd acquired a new stake in Standard BioTools Inc. (NASDAQ:LAB - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,575,000 shares of the company's stock, valued at approximately $1,701,000. Standard BioTools comprises about 1.1% of Pacific Capital Partners Ltd's investment portfolio, making the stock its 26th biggest position. Pacific Capital Partners Ltd owned about 0.41% of Standard BioTools as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LAB. Two Sigma Securities LLC acquired a new stake in Standard BioTools during the 4th quarter valued at approximately $30,000. Aquatic Capital Management LLC purchased a new position in shares of Standard BioTools during the 4th quarter valued at approximately $45,000. CWM LLC increased 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 valued at $32,000 after purchasing an additional 14,984 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Standard BioTools during the 1st quarter valued at approximately $35,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Standard BioTools during the 4th quarter valued at approximately $70,000. 53.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Standard BioTools Trading Down 2.3%

NASDAQ LAB traded down $0.03 during trading hours on Friday, reaching $1.30. The company had a trading volume of 1,510,169 shares, compared to its average volume of 1,543,335. The stock has a 50-day moving average of $1.21 and a 200 day moving average of $1.23. Standard BioTools Inc. has a 1-year low of $0.92 and a 1-year high of $2.32. The stock has a market capitalization of $493.77 million, a P/E ratio of -3.71 and a beta of 1.32.

About Standard BioTools

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.