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

Standard BioTools Inc. (NASDAQ:LAB) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 2,213,551 shares, a decline of 35.4% from the June 30th total of 3,425,003 shares. Based on an average daily trading volume, of 3,059,750 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.8% of the company’s shares are short sold.

Standard BioTools Trading Down 3.3%

NASDAQ:LAB opened at $0.87 on Friday. Standard BioTools has a 1-year low of $0.70 and a 1-year high of $1.72. The business’s 50-day moving average price is $0.90 and its two-hundred day moving average price is $1.03. The firm has a market capitalization of $338.84 million, a price-to-earnings ratio of 4.34 and a beta of 1.42.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LAB. BNP Paribas Financial Markets raised its holdings in Standard BioTools by 50.3% in the second quarter. BNP Paribas Financial Markets now owns 29,826 shares of the company’s stock worth $36,000 after purchasing an additional 9,986 shares during the period. Deutsche Bank AG increased its position in shares of Standard BioTools by 4.4% in the 4th quarter. Deutsche Bank AG now owns 255,851 shares of the company’s stock valued at $327,000 after buying an additional 10,824 shares in the last quarter. Front Street Capital Management Inc. raised its stake in Standard BioTools by 9.9% during the 1st quarter. Front Street Capital Management Inc. now owns 141,231 shares of the company’s stock worth $130,000 after buying an additional 12,706 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Standard BioTools by 9.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 172,134 shares of the company’s stock worth $221,000 after buying an additional 14,592 shares during the period. Finally, Cerity Partners LLC lifted its holdings in Standard BioTools by 70.2% during the second quarter. Cerity Partners LLC now owns 37,501 shares of the company’s stock worth $45,000 after acquiring an additional 15,470 shares in the last quarter. Institutional investors and hedge funds own 53.74% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Standard BioTools from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $1.35.

Standard BioTools Company Profile

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.