Standard BioTools (NASDAQ:LAB) Director Purchases $161,196.20 in Stock

Key Points

• Casdin Partners Master Fund, L purchased 133,220 shares of Standard BioTools Inc. at an average cost of $1.21 per share, increasing its stake to 59.6 million shares worth approximately $72.1 million.
• Several analysts have downgraded Standard BioTools, with Cowen changing its recommendation from "buy" to "hold" and setting a price target of $1.55.
• The stock price of Standard BioTools increased by 0.8% during trading, closing at $1.23, with a one-year high of $2.32.

Standard BioTools Inc. (NASDAQ:LAB - Get Free Report) Director Casdin Partners Master Fund, L bought 133,220 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average cost of $1.21 per share, with a total value of $161,196.20. Following the transaction, the director directly owned 59,600,000 shares of the company's stock, valued at $72,116,000. The trade was a 0.22% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Casdin Partners Master Fund, L also recently made the following trade(s):

• On Friday, August 15th, Casdin Partners Master Fund, L bought 150,000 shares of Standard BioTools stock. The shares were purchased at an average cost of $1.22 per share, with a total value of $183,000.00.
• On Wednesday, August 13th, Casdin Partners Master Fund, L bought 75,000 shares of Standard BioTools stock. The shares were purchased at an average cost of $1.31 per share, with a total value of $98,250.00.

Standard BioTools Trading Down 3.1%

Shares of NASDAQ LAB traded down $0.04 during midday trading on Wednesday, reaching $1.23. The company had a trading volume of 1,147,035 shares, compared to its average volume of 1,326,034. The business's 50-day simple moving average is $1.27 and its 200 day simple moving average is $1.19. The stock has a market cap of $469.85 million, a P/E ratio of -3.84 and a beta of 1.32. Standard BioTools Inc. has a 1 year low of $0.92 and a 1 year high of $2.32.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Front Street Capital Management Inc. purchased a new position in shares of Standard BioTools during the second quarter worth $145,000. BNP Paribas Financial Markets raised its holdings in shares of Standard BioTools by 50.3% during the second quarter. BNP Paribas Financial Markets now owns 29,826 shares of the company's stock worth $36,000 after purchasing an additional 9,986 shares during the last quarter. Kent Lake PR LLC purchased a new position in shares of Standard BioTools during the second quarter worth $1,200,000. Jane Street Group LLC purchased a new position in shares of Standard BioTools during the second quarter worth $43,000. Finally, Qube Research & Technologies Ltd raised its holdings in shares of Standard BioTools by 5.0% during the second quarter. Qube Research & Technologies Ltd now owns 441,101 shares of the company's stock worth $529,000 after purchasing an additional 20,979 shares during the last quarter. Hedge funds and other institutional investors own 53.74% of the company's stock.

Analysts Set New Price Targets

LAB has been the subject of a number of research analyst reports. TD Cowen cut shares of Standard BioTools from a "buy" rating to a "hold" rating and set a $1.55 price target for the company. in a report on Wednesday, August 13th. Cowen cut shares of Standard BioTools from a "buy" rating to a "hold" rating in a report on Wednesday, August 13th. Finally, Wall Street Zen raised shares of Standard BioTools from a "sell" rating to a "hold" rating in a report on Saturday. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target 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.