Standard BioTools' (LAB) Sell (D-) Rating Reiterated at Weiss Ratings

Key Points

• Standard BioTools' stock has a sell (D-) rating reiterated by Weiss Ratings, indicating continued pessimism from analysts.
• TD Cowen has downgraded the stock from buy to hold with a price target of $1.55, while consensus ratings suggest a Reduce outlook overall.
• Recent insider trading shows increased confidence, with a director purchasing 100,000 shares valued at $129,000, raising insider ownership to 23.16% of total shares.

Standard BioTools (NASDAQ:LAB - Get Free Report)'s stock had its "sell (d-)" rating reiterated by investment analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other brokerages have also recently weighed in on LAB. TD Cowen cut Standard BioTools from a "buy" rating to a "hold" rating and set a $1.55 price target on the stock. in a research note on Wednesday, August 13th. Wall Street Zen raised Standard BioTools from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Cowen cut Standard BioTools from a "buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $1.55.

Standard BioTools Stock Up 1.5%

Shares of LAB stock opened at $1.32 on Wednesday. The stock has a market cap of $504.23 million, a price-to-earnings ratio of -4.13 and a beta of 1.31. The business's fifty day moving average is $1.30 and its 200 day moving average is $1.21. Standard BioTools has a twelve month low of $0.92 and a twelve month high of $2.32.

Insider Buying and Selling

In related news, Director Casdin Partners Master Fund, L bought 100,000 shares of the company's stock in a transaction on Tuesday, September 9th. The shares were acquired at an average cost of $1.29 per share, with a total value of $129,000.00. Following the completion of the acquisition, the director owned 60,875,000 shares of the company's stock, valued at $78,528,750. The trade was a 0.16% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 1,233,220 shares of company stock valued at $1,546,446 over the last 90 days. Insiders own 23.16% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. bought a new position in shares of Standard BioTools during the first quarter valued at $94,000. Rhumbline Advisers lifted its holdings in Standard BioTools by 11.4% in the first quarter. Rhumbline Advisers now owns 412,761 shares of the company's stock valued at $446,000 after acquiring an additional 42,247 shares during the period. Teacher Retirement System of Texas bought a new position in Standard BioTools in the first quarter valued at about $35,000. Vanguard Group Inc. lifted its holdings in Standard BioTools by 0.4% in the first quarter. Vanguard Group Inc. now owns 17,225,250 shares of the company's stock valued at $18,603,000 after acquiring an additional 69,104 shares during the period. Finally, XTX Topco Ltd bought a new position in Standard BioTools in the first quarter valued at about $171,000. 53.74% of the stock is owned by institutional investors.

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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