Standard BioTools Inc. (NASDAQ:LAB) Shares Sold by Needham Investment Management LLC

Needham Investment Management LLC cut its position in shares of Standard BioTools Inc. (NASDAQ:LAB) by 20.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 784,435 shares of the company’s stock after selling 200,000 shares during the quarter. Needham Investment Management LLC’s holdings in Standard BioTools were worth $1,514,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of LAB. Arizona State Retirement System grew its holdings in Standard BioTools by 16.6% during the second quarter. Arizona State Retirement System now owns 69,596 shares of the company’s stock worth $123,000 after acquiring an additional 9,933 shares during the period. XTX Topco Ltd boosted its position in shares of Standard BioTools by 38.2% during the 2nd quarter. XTX Topco Ltd now owns 35,965 shares of the company’s stock valued at $64,000 after purchasing an additional 9,947 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of 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 last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Standard BioTools by 433.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 18,128 shares of the company’s stock worth $35,000 after purchasing an additional 14,732 shares in the last quarter. Finally, Xponance Inc. acquired a new stake in Standard BioTools during the second quarter valued at approximately $34,000. Institutional investors own 53.74% of the company’s stock.

Standard BioTools Stock Performance

NASDAQ LAB opened at $1.83 on Wednesday. The firm’s 50 day moving average price is $1.84 and its two-hundred day moving average price is $1.99. Standard BioTools Inc. has a twelve month low of $1.21 and a twelve month high of $3.04. The stock has a market cap of $681.24 million, a price-to-earnings ratio of -2.58 and a beta of 1.61.

Wall Street Analyst Weigh In

Separately, TD Cowen decreased their price target on shares of Standard BioTools from $2.75 to $2.50 and set a “buy” rating on the stock in a research report on Thursday, October 31st.

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.