Balyasny Asset Management L.P. Decreases Stake in Standard BioTools Inc. (NASDAQ:LAB)

Balyasny Asset Management L.P. lowered its position in Standard BioTools Inc. (NASDAQ:LAB - Free Report) by 25.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 735,004 shares of the company's stock after selling 256,700 shares during the quarter. Balyasny Asset Management L.P. owned 0.20% of Standard BioTools worth $1,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in LAB. Barclays PLC increased its position in Standard BioTools by 13.2% during the 3rd quarter. Barclays PLC now owns 3,228,360 shares of the company's stock valued at $6,231,000 after purchasing an additional 377,195 shares during the period. JPMorgan Chase & Co. increased its position in Standard BioTools by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 139,748 shares of the company's stock valued at $270,000 after purchasing an additional 9,995 shares during the period. Simon Quick Advisors LLC acquired a new stake in Standard BioTools during the 4th quarter valued at approximately $54,000. SG Americas Securities LLC increased its position in Standard BioTools by 34.2% during the 4th quarter. SG Americas Securities LLC now owns 135,927 shares of the company's stock valued at $238,000 after purchasing an additional 34,670 shares during the period. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in Standard BioTools during the 4th quarter valued at approximately $314,000. Institutional investors and hedge funds own 53.74% of the company's stock.

Insiders Place Their Bets

In related news, Director Casdin Partners Master Fund, L acquired 4,820,959 shares of the company's stock in a transaction on Friday, February 28th. The shares were acquired at an average cost of $1.06 per share, for a total transaction of $5,110,216.54. Following the purchase, the director now owns 58,846,780 shares in the company, valued at approximately $62,377,586.80. The trade was a 8.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 23.16% of the company's stock.

Analyst Ratings Changes

Separately, KeyCorp downgraded shares of Standard BioTools from an "overweight" rating to a "sector weight" rating in a research report on Thursday, February 27th.

Standard BioTools Stock Performance

Shares of Standard BioTools stock traded up $0.03 on Friday, reaching $1.08. 1,628,213 shares of the company's stock were exchanged, compared to its average volume of 2,148,994. The company has a market capitalization of $410.21 million, a P/E ratio of -1.52 and a beta of 1.80. Standard BioTools Inc. has a 52 week low of $0.95 and a 52 week high of $2.74. The firm's 50-day moving average is $1.14 and its two-hundred day moving average is $1.49.

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.