Standard BioTools Inc. $LAB Shares Sold by Pacific Capital Partners Ltd

Key Points

• Pacific Capital Partners Ltd reduced its stake in Standard BioTools Inc. by 12.7% during Q2, now holding approximately 1,375,000 shares worth $1,650,000.
• Insider transactions include the Director of Casdin Partners Master Fund acquiring 250,000 shares at $1.27, increasing their position by 0.41%.
• Standard BioTools has a consensus rating of "Hold" with an average target price of $1.55, reflecting recent rating adjustments from various analysts.

Pacific Capital Partners Ltd lessened its stake in shares of Standard BioTools Inc. (NASDAQ:LAB - Free Report) by 12.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,375,000 shares of the company's stock after selling 200,000 shares during the quarter. Standard BioTools comprises about 1.5% of Pacific Capital Partners Ltd's investment portfolio, making the stock its 22nd biggest position. Pacific Capital Partners Ltd owned about 0.36% of Standard BioTools worth $1,650,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of LAB. Long Focus Capital Management LLC acquired a new stake in shares of Standard BioTools during the first quarter worth $7,236,000. Nuveen LLC acquired a new stake in shares of Standard BioTools during the first quarter worth $862,000. Royce & Associates LP boosted its holdings in shares of Standard BioTools by 37.4% during the first quarter. Royce & Associates LP now owns 2,000,503 shares of the company's stock worth $2,161,000 after purchasing an additional 545,000 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Standard BioTools by 369.2% during the first quarter. GSA Capital Partners LLP now owns 608,656 shares of the company's stock worth $657,000 after purchasing an additional 478,922 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Standard BioTools by 862.2% during the first quarter. AQR Capital Management LLC now owns 482,912 shares of the company's stock worth $522,000 after purchasing an additional 432,725 shares during the last quarter. Institutional investors and hedge funds own 53.74% of the company's stock.

Standard BioTools Trading Down 3.0%

Shares of LAB opened at $1.29 on Friday. The firm has a market capitalization of $492.77 million, a P/E ratio of -4.03 and a beta of 1.29. The stock's fifty day simple moving average is $1.30 and its 200 day simple moving average is $1.18. Standard BioTools Inc. has a twelve month low of $0.92 and a twelve month high of $2.32.

Insider Buying and Selling at Standard BioTools

In other news, Director Casdin Partners Master Fund, L bought 250,000 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were acquired at an average cost of $1.27 per share, with a total value of $317,500.00. Following the transaction, the director owned 60,525,000 shares of the company's stock, valued at $76,866,750. This represents a 0.41% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders acquired 1,233,220 shares of company stock valued at $1,546,446. Company insiders own 23.16% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wall Street Zen upgraded 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 research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $1.55.

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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