Standard BioTools Inc. (NASDAQ:LAB) Short Interest Update

Key Points

• Short interest fell 35.4% to 2.21 million shares as of July 15, representing approximately 0.8% of Standard BioTools’ shares and only 0.7 days of average trading volume.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating, with two Holds and one Sell, and an average price target of $1.35. Weiss Ratings modestly upgraded its rating from “sell (d)” to “sell (d+).”
• Institutional ownership stands at 53.74%, with several firms increasing their positions, including AQR Capital Management, which expanded its holdings by 862.2% in the first quarter.

Standard BioTools Inc. (NASDAQ:LAB - Get Free Report) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 2,213,551 shares, a decline of 35.4% from the June 30th total of 3,425,003 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 3,059,750 shares, the short-interest ratio is currently 0.7 days.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Standard BioTools from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Reduce" and an average target price of $1.35.

Institutional Investors Weigh In On Standard BioTools

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LAB. AQR Capital Management LLC grew its holdings in shares of Standard BioTools by 862.2% in the 1st quarter. AQR Capital Management LLC now owns 482,912 shares of the company's stock valued at $522,000 after buying an additional 432,725 shares during the period. Creative Planning lifted its holdings in Standard BioTools by 56.6% during the second quarter. Creative Planning now owns 61,102 shares of the company's stock worth $73,000 after acquiring an additional 22,082 shares in the last quarter. Legal & General Group Plc lifted its holdings in Standard BioTools by 25.7% during the second quarter. Legal & General Group Plc now owns 310,435 shares of the company's stock worth $373,000 after acquiring an additional 63,484 shares in the last quarter. Rhumbline Advisers grew its stake in Standard BioTools by 14.6% in the second quarter. Rhumbline Advisers now owns 472,981 shares of the company's stock valued at $568,000 after acquiring an additional 60,220 shares during the period. Finally, Prudential Financial Inc. grew its stake in Standard BioTools by 72.7% in the second quarter. Prudential Financial Inc. now owns 39,307 shares of the company's stock valued at $47,000 after acquiring an additional 16,541 shares during the period. Institutional investors own 53.74% of the company's stock.

Standard BioTools Stock Performance

Shares of NASDAQ LAB traded down $0.03 during trading on Friday, reaching $0.86. The company had a trading volume of 1,155,495 shares, compared to its average volume of 2,779,779. Standard BioTools has a 52 week low of $0.70 and a 52 week high of $1.72. The stock has a market cap of $337.28 million, a PE ratio of 4.32 and a beta of 1.42. The business's 50 day moving average price is $0.91 and its 200-day moving average price is $1.03.

Standard BioTools Company Profile

Standard BioTools, Inc NASDAQ: LAB, formerly known as Fluidigm Corporation, is a life sciences tools company that develops and commercializes high-parameter, single-cell and spatial biology solutions. The company’s platforms integrate microfluidics, mass cytometry, sequencing and imaging to enable researchers to probe cellular heterogeneity, molecular interactions and complex tissue architecture. Its end users span academic institutions, pharmaceutical and biotechnology companies worldwide.

The company’s flagship products include mass cytometry systems—such as the Helios and Hyperion Imaging System—for multiplexed protein analysis at single-cell resolution, and the Chromium-style single-cell genomic tools for high-throughput gene expression profiling.

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