Standard BioTools Inc. (NASDAQ:LAB) Director Casdin Partners Master Fund, L Buys 75,000 Shares

Key Points

• Director Casdin Partners Master Fund, L acquired 75,000 shares of Standard BioTools stock at an average cost of $1.31 per share, increasing their ownership to approximately 59.5 million shares.
• Standard BioTools shares recently traded at $1.23, with a market cap of $467.18 million, and analysts have rated the stock as a hold with a target price of $1.55.
• Institutional ownership of Standard BioTools stands at 53.74%, indicating significant interest from hedge funds and large investors.

Standard BioTools Inc. (NASDAQ:LAB - Get Free Report) Director Casdin Partners Master Fund, L bought 75,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was purchased at an average cost of $1.31 per share, with a total value of $98,250.00. Following the transaction, the director directly owned 59,466,780 shares in the company, valued at approximately $77,901,481.80. This represents a 0.13% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 purchased 150,000 shares of Standard BioTools stock. The stock was purchased at an average cost of $1.22 per share, for a total transaction of $183,000.00.
• On Thursday, August 14th, Casdin Partners Master Fund, L acquired 133,220 shares of Standard BioTools stock. The stock was purchased at an average price of $1.21 per share, with a total value of $161,196.20.

Standard BioTools Price Performance

LAB stock traded up $0.01 on Friday, reaching $1.23. 1,009,578 shares of the company traded hands, compared to its average volume of 1,382,492. The firm has a fifty day simple moving average of $1.26 and a 200-day simple moving average of $1.20. Standard BioTools Inc. has a one year low of $0.92 and a one year high of $2.32. The company has a market cap of $467.18 million, a P/E ratio of -3.84 and a beta of 1.32.

Wall Street Analysts Forecast Growth

LAB has been the topic of a number of research reports. TD Cowen cut shares of Standard BioTools from a "buy" rating to a "hold" rating and set a $1.55 target price on the stock. in a report on Wednesday. Cowen cut shares of Standard BioTools from a "buy" rating to a "hold" rating in a report on Wednesday.

Hedge Funds Weigh In On Standard BioTools

Large investors have recently modified their holdings of the stock. Jump Financial LLC bought a new position in shares of Standard BioTools in the first quarter worth approximately $26,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in Standard BioTools by 115.6% in 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 during the last quarter. Two Sigma Securities LLC bought a new position in Standard BioTools in the 4th quarter valued at approximately $30,000. CWM LLC lifted its position in Standard BioTools by 101.8% in the 1st quarter. CWM LLC now owns 29,705 shares of the company's stock valued at $32,000 after acquiring an additional 14,984 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Standard BioTools during the 1st quarter valued at $35,000. Hedge funds and other institutional investors own 53.74% of the company's stock.

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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