Insider Buying: Standard BioTools Inc. (NASDAQ:LAB) Director Acquires 133,220 Shares of 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 purchased 133,220 shares of the stock in a transaction dated Thursday, August 14th. The stock was bought at an average cost of $1.21 per share, with a total value of $161,196.20. Following the transaction, the director owned 59,600,000 shares in the company, valued at $72,116,000. The trade was a 0.22% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 acquired 150,000 shares of Standard BioTools stock. The stock was acquired at an average cost of $1.22 per share, for a total transaction of $183,000.00.
• On Wednesday, August 13th, Casdin Partners Master Fund, L acquired 75,000 shares of Standard BioTools stock. The shares were acquired at an average cost of $1.31 per share, for a total transaction of $98,250.00.

Standard BioTools Stock Up 0.8%

NASDAQ LAB traded up $0.01 during trading hours on Friday, reaching $1.23. The company's stock had a trading volume of 1,009,578 shares, compared to its average volume of 1,382,492. Standard BioTools Inc. has a 1 year low of $0.92 and a 1 year high of $2.32. The company has a market capitalization of $467.18 million, a price-to-earnings ratio of -3.84 and a beta of 1.32. The firm's 50-day moving average price is $1.26 and its 200-day moving average price is $1.20.

Institutional Investors Weigh In On Standard BioTools

A number of hedge funds have recently bought and sold shares of LAB. Vanguard Group Inc. lifted its stake in shares of Standard BioTools by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 17,225,250 shares of the company's stock worth $18,603,000 after acquiring an additional 69,104 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Standard BioTools by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 7,441,134 shares of the company's stock worth $8,931,000 after acquiring an additional 235,677 shares in the last quarter. Long Focus Capital Management LLC purchased a new position in Standard BioTools in the first quarter valued at about $7,236,000. ARK Investment Management LLC boosted its holdings in shares of Standard BioTools by 3.9% in the 1st quarter. ARK Investment Management LLC now owns 3,452,890 shares of the company's stock valued at $3,729,000 after buying an additional 129,201 shares in the last quarter. Finally, Mirabella Financial Services LLP lifted its position in Standard BioTools by 5.0% during the second quarter. Mirabella Financial Services LLP now owns 3,434,387 shares of the company's stock valued at $4,121,000 after acquiring an additional 163,714 shares during the last quarter. Hedge funds and other institutional investors own 53.74% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Cowen downgraded Standard BioTools from a "buy" rating to a "hold" rating in a research note on Wednesday. TD Cowen lowered shares of Standard BioTools from a "buy" rating to a "hold" rating and set a $1.55 price target for the company. in a research report on Wednesday.

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.

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