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

Standard BioTools Inc. (NASDAQ:LAB) was the recipient of a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 3,425,003 shares, a drop of 65.9% from the June 15th total of 10,029,339 shares. Based on an average daily volume of 6,850,088 shares, the days-to-cover ratio is currently 0.5 days. Approximately 1.2% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LAB. Weiss Ratings cut Standard BioTools from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 27th. Wall Street Zen raised Standard BioTools from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $1.35.

Standard BioTools Stock Performance

Shares of LAB opened at $0.92 on Monday. Standard BioTools has a 12 month low of $0.70 and a 12 month high of $1.72. The firm has a fifty day simple moving average of $0.95 and a 200 day simple moving average of $1.09. The stock has a market capitalization of $358.51 million, a price-to-earnings ratio of 4.59 and a beta of 1.42.

Institutional Investors Weigh In On Standard BioTools

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

About Standard BioTools

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.