Standard BioTools (NASDAQ:LAB) Trading Down 3.3% - Here's What Happened

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

Standard BioTools Trading Down 1.8%

The firm's 50-day moving average price is $1.11 and its 200-day moving average price is $1.29. The stock has a market capitalization of $510.86 million, a PE ratio of -3.84 and a beta of 1.54.

Institutional Trading of Standard BioTools

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LAB. Long Focus Capital Management LLC purchased a new stake in Standard BioTools in the 1st quarter worth about $7,236,000. Mirabella Financial Services LLP purchased a new stake in Standard BioTools in the 4th quarter worth about $5,478,000. Pacific Capital Partners Ltd purchased a new stake in Standard BioTools in the 1st quarter worth about $1,701,000. Royce & Associates LP raised its position in Standard BioTools by 136.8% in the 4th quarter. Royce & Associates LP now owns 1,455,503 shares of the company's stock worth $2,547,000 after purchasing an additional 840,951 shares during the period. Finally, Nuveen LLC purchased a new stake in Standard BioTools in the 1st quarter worth about $862,000. 53.74% of the stock is owned by hedge funds and other 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.