Standard BioTools (NASDAQ:LAB) Director Casdin Partners Master Fund, L Acquires 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 acquired 75,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average price of $1.31 per share, for a total transaction of $98,250.00. Following the purchase, the director directly owned 59,466,780 shares of the company's stock, valued at approximately $77,901,481.80. This trade represents a 0.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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 shares were purchased at an average price 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 shares were purchased at an average price of $1.21 per share, for a total transaction of $161,196.20.

Standard BioTools Stock Down 3.1%

Shares of LAB traded down $0.04 during mid-day trading on Wednesday, reaching $1.23. 1,147,035 shares of the stock traded hands, compared to its average volume of 1,326,034. The firm has a market cap of $469.85 million, a price-to-earnings ratio of -3.84 and a beta of 1.32. The stock has a fifty day simple moving average of $1.27 and a 200 day simple moving average of $1.19. Standard BioTools Inc. has a 12-month low of $0.92 and a 12-month high of $2.32.

Institutional Trading of Standard BioTools

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Standard BioTools by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 168,777 shares of the company's stock worth $295,000 after buying an additional 7,304 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Standard BioTools by 6.1% in the second quarter. Intech Investment Management LLC now owns 149,018 shares of the company's stock worth $179,000 after buying an additional 8,519 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Standard BioTools by 50.3% in the second quarter. BNP Paribas Financial Markets now owns 29,826 shares of the company's stock worth $36,000 after buying an additional 9,986 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Standard BioTools by 10.8% in the first quarter. HighTower Advisors LLC now owns 102,791 shares of the company's stock worth $111,000 after buying an additional 10,000 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Standard BioTools by 7.5% in the fourth quarter. Invesco Ltd. now owns 175,041 shares of the company's stock worth $306,000 after buying an additional 12,194 shares during the last quarter. Institutional investors own 53.74% of the company's stock.

Wall Street Analyst Weigh In

LAB has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Standard BioTools from a "sell" rating to a "hold" rating in a research note on Saturday. TD Cowen lowered shares of Standard BioTools from a "buy" rating to a "hold" rating and set a $1.55 price objective on the stock. in a research note on Wednesday, August 13th. Finally, Cowen lowered shares of Standard BioTools from a "buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus 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.