Standard BioTools (NASDAQ:LAB) Shares Down 7.1% - Time to Sell?

Key Points

• Standard BioTools Inc. shares fell 7.1%, closing at $1.37 after hitting a low of $1.38, with trading volume down 58% from the daily average.
• TD Cowen upgraded Standard BioTools stock to a "strong-buy" rating on July 17th.
• The company has a market capitalization of $526.05 million and a negative PE ratio of -3.96.
• Institutional investors hold 53.74% of the company's stock, with several hedge funds recently increasing their positions.

Standard BioTools Inc. (NASDAQ:LAB - Get Free Report)'s stock price dropped 7.1% during trading on Friday . The company traded as low as $1.38 and last traded at $1.37. Approximately 755,577 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 1,816,344 shares. The stock had previously closed at $1.47.

Analyst Ratings Changes

Separately, TD Cowen raised shares of Standard BioTools to a "strong-buy" rating in a research note on Thursday, July 17th.

Standard BioTools Price Performance

The company has a market capitalization of $526.05 million, a PE ratio of -3.96 and a beta of 1.54. The company's 50 day simple moving average is $1.16 and its 200 day simple moving average is $1.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jump Financial LLC acquired a new stake in Standard BioTools during the 1st quarter worth approximately $26,000. Takeda Pharmaceutical Co. Ltd. acquired a new stake in shares of Standard BioTools during the 4th quarter valued at approximately $29,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Standard BioTools by 115.6% during the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 27,119 shares of the company's stock valued at $29,000 after acquiring an additional 14,541 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in Standard BioTools in the fourth quarter worth $30,000. Finally, CWM LLC increased its position in Standard BioTools by 101.8% in the first quarter. CWM LLC now owns 29,705 shares of the company's stock worth $32,000 after buying an additional 14,984 shares during the period. Institutional investors and hedge funds own 53.74% of the company's stock.

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.

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