Standard BioTools (NASDAQ:LAB) Trading 5.6% Higher – Still a Buy?

Standard BioTools Inc. (NASDAQ:LAB) was up 5.6% during mid-day trading on Tuesday . The company traded as high as $1.58 and last traded at $1.5950. Approximately 262,256 shares were traded during trading, a decline of 87% from the average daily volume of 1,983,099 shares. The stock had previously closed at $1.51.

Analyst Upgrades and Downgrades

LAB has been the subject of several analyst reports. Wall Street Zen downgraded shares of Standard BioTools from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Zacks Research upgraded shares of Standard BioTools to a “hold” rating in a research report on Thursday, December 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Standard BioTools in a research report on Wednesday, October 8th. Finally, TD Cowen dropped their price objective on Standard BioTools from $1.55 to $1.35 and set a “hold” rating for the company in a report on Wednesday, November 5th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $1.35.

Standard BioTools Stock Up 9.6%

The stock has a market capitalization of $636.46 million, a PE ratio of -4.87 and a beta of 1.26. The firm’s fifty day moving average price is $1.38 and its two-hundred day moving average price is $1.33.

Insider Buying and Selling at Standard BioTools

In other news, Director Casdin Partners Master Fund, L purchased 7,550,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were purchased at an average cost of $1.30 per share, for a total transaction of $9,815,000.00. Following the purchase, the director directly owned 71,750,000 shares in the company, valued at approximately $93,275,000. This represents a 11.76% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders acquired 11,225,000 shares of company stock worth $14,408,250. 23.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its stake in Standard BioTools by 2,989.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 25,021 shares of the company’s stock worth $33,000 after acquiring an additional 24,211 shares during the period. Federated Hermes Inc. increased its stake in Standard BioTools by 103.6% in the 3rd quarter. Federated Hermes Inc. now owns 28,545 shares of the company’s stock worth $37,000 after acquiring an additional 14,523 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Standard BioTools by 50.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 29,826 shares of the company’s stock worth $36,000 after acquiring an additional 9,986 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Standard BioTools during the 3rd quarter worth approximately $41,000. Finally, SG Americas Securities LLC boosted its position in shares of Standard BioTools by 167.8% during the 3rd quarter. SG Americas Securities LLC now owns 33,039 shares of the company’s stock valued at $43,000 after acquiring an additional 20,700 shares during the last quarter. 53.74% of the stock is owned by hedge funds and other 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.