Standard BioTools (NASDAQ:LAB) Stock Price Up 4.3% Following Insider Buying Activity

Standard BioTools Inc. (NASDAQ:LAB) shares traded up 4.3% during mid-day trading on Monday following insider buying activity. The company traded as high as $1.72 and last traded at $1.69. 568,544 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 2,671,926 shares. The stock had previously closed at $1.62.

Specifically, Director Casdin Partners Master Fund, L bought 500,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $1.57 per share, for a total transaction of $785,000.00. Following the transaction, the director now directly owns 48,430,821 shares in the company, valued at $76,036,388.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders bought a total of 2,802,072 shares of company stock valued at $5,562,304 in the last 90 days. Corporate insiders own 53.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, TD Cowen lowered their target price on shares of Standard BioTools from $3.50 to $2.75 and set a “buy” rating for the company in a report on Thursday, August 1st.

Standard BioTools Trading Up 5.2 %

The stock’s fifty day moving average is $2.03 and its two-hundred day moving average is $2.36. The firm has a market cap of $631.57 million, a P/E ratio of -1.60 and a beta of 1.67.

Institutional Trading of Standard BioTools

Institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. boosted its stake in Standard BioTools by 268.8% in the second quarter. American Century Companies Inc. now owns 97,307 shares of the company’s stock worth $172,000 after buying an additional 70,924 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Standard BioTools by 16.6% during the 2nd quarter. Arizona State Retirement System now owns 69,596 shares of the company’s stock valued at $123,000 after purchasing an additional 9,933 shares during the last quarter. Victory Capital Management Inc. raised its position in Standard BioTools by 27.3% in the 2nd quarter. Victory Capital Management Inc. now owns 46,967 shares of the company’s stock worth $83,000 after purchasing an additional 10,067 shares during the period. Rhumbline Advisers lifted its stake in Standard BioTools by 3,691.1% in the second quarter. Rhumbline Advisers now owns 407,467 shares of the company’s stock worth $721,000 after purchasing an additional 396,719 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in Standard BioTools during the second quarter valued at about $57,000. Hedge funds and other institutional investors own 53.74% of the company’s stock.

Standard BioTools Company Profile

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.