Standard BioTools (NASDAQ:LAB) Shares Down 5.9% – Here’s What Happened

Standard BioTools Inc. (NASDAQ:LAB)’s stock price was down 5.9% on Wednesday . The stock traded as low as $1.92 and last traded at $1.93. Approximately 699,709 shares traded hands during mid-day 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 decreased their target price on shares of Standard BioTools from $2.75 to $2.50 and set a “buy” rating for the company in a research note on Thursday, October 31st.

Standard BioTools Trading Down 8.8 %

The stock has a fifty day moving average price of $1.93 and a two-hundred day moving average price of $2.07.

Insider Transactions at Standard BioTools

In related news, Director Casdin Partners Master Fund, L purchased 150,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was acquired at an average price of $2.15 per share, with a total value of $322,500.00. Following the completion of the purchase, the director now directly owns 53,775,821 shares in the company, valued at $115,618,015.15. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders bought 1,192,100 shares of company stock valued at $2,357,173. 53.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LAB. Freestone Capital Holdings LLC acquired a new position in Standard BioTools during the 1st quarter worth about $31,000. Xponance Inc. acquired a new position in Standard BioTools during the 2nd quarter worth about $34,000. Nisa Investment Advisors LLC lifted its holdings in Standard BioTools by 433.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 18,128 shares of the company’s stock worth $35,000 after buying an additional 14,732 shares during the period. Shell Asset Management Co. acquired a new position in shares of Standard BioTools in the 1st quarter valued at about $39,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Standard BioTools in the 2nd quarter valued at about $39,000. 53.74% of the stock is owned by institutional investors and hedge funds.

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.