Standard BioTools (NASDAQ:LAB) Stock Price Down 5.9% – Time to Sell?

Standard BioTools Inc. (NASDAQ:LAB)’s stock price was down 5.9% during trading on Wednesday . The stock traded as low as $1.92 and last traded at $1.93. Approximately 699,709 shares were traded during trading, a decline of 72% from the average daily volume of 2,461,302 shares. The stock had previously closed at $2.05.

Wall Street Analysts Forecast Growth

Separately, TD Cowen reduced their price objective on Standard BioTools from $2.75 to $2.50 and set a “buy” rating for the company in a research report on Thursday, October 31st.

Standard BioTools Stock Performance

The business’s 50 day simple moving average is $1.93 and its 200-day simple moving average is $2.07.

Insider Activity at Standard BioTools

In other news, Director Casdin Partners Master Fund, L bought 150,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average price of $2.15 per share, with a total value of $322,500.00. Following the completion of the acquisition, the director now directly owns 53,775,821 shares in the company, valued at approximately $115,618,015.15. This trade represents a 0.28 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired a total of 1,192,100 shares of company stock worth $2,357,173 in the last three months. 53.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Standard BioTools

Several hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its holdings in shares of Standard BioTools by 1,775,900.0% in the first quarter. BNP Paribas Financial Markets now owns 17,760 shares of the company’s stock worth $48,000 after buying an additional 17,759 shares during the period. SG Americas Securities LLC acquired a new position in Standard BioTools in the 1st quarter worth approximately $71,000. Swiss National Bank purchased a new position in Standard BioTools during the 1st quarter worth approximately $1,162,000. Johnson & Johnson acquired a new stake in Standard BioTools during the 1st quarter valued at $845,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Standard BioTools by 215.3% in the first quarter. Vanguard Group Inc. now owns 13,034,043 shares of the company’s stock valued at $35,322,000 after purchasing an additional 8,900,104 shares in the last quarter. 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.