Standard BioTools (NASDAQ:LAB) Trading Down 3.3% - Should You Sell?

Standard BioTools Inc. (NASDAQ:LAB - Get Free Report)'s stock price was down 3.3% during mid-day trading on Thursday . The company traded as low as $1.33 and last traded at $1.33. Approximately 158,238 shares changed hands during trading, a decline of 92% from the average daily volume of 1,947,274 shares. The stock had previously closed at $1.37.

Standard BioTools Trading Down 1.8%

The stock has a market capitalization of $510.86 million, a P/E ratio of -3.84 and a beta of 1.54. The business has a 50-day moving average price of $1.11 and a two-hundred day moving average price of $1.31.

Hedge Funds Weigh In On Standard BioTools

A number of institutional investors have recently added to or reduced their stakes in LAB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Standard BioTools by 80.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 554,203 shares of the company's stock valued at $970,000 after purchasing an additional 247,332 shares during the period. Invesco Ltd. grew its position in shares of Standard BioTools by 7.5% in the 4th quarter. Invesco Ltd. now owns 175,041 shares of the company's stock valued at $306,000 after buying an additional 12,194 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Standard BioTools by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 83,074 shares of the company's stock valued at $145,000 after buying an additional 27,334 shares during the period. Northern Trust Corp raised its position in shares of Standard BioTools by 9.3% during the fourth quarter. Northern Trust Corp now owns 2,875,160 shares of the company's stock worth $5,032,000 after acquiring an additional 243,522 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Standard BioTools by 11.4% during the first quarter. Rhumbline Advisers now owns 412,761 shares of the company's stock worth $446,000 after acquiring an additional 42,247 shares during the last quarter. 53.74% of the stock is currently owned by institutional investors and hedge funds.

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.