Wall Street Zen Downgrades Standard BioTools (NASDAQ:LAB) to Strong Sell

Standard BioTools (NASDAQ:LAB) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “strong sell” rating in a note issued to investors on Saturday.

LAB has been the topic of a number of other research reports. TD Cowen cut their target price on Standard BioTools from $1.55 to $1.35 and set a “hold” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Standard BioTools in a research report on Wednesday, October 8th. Finally, Cowen lowered Standard BioTools from a “buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Standard BioTools has a consensus rating of “Reduce” and a consensus price target of $1.35.

Standard BioTools Price Performance

Shares of NASDAQ:LAB traded up $0.02 during trading on Friday, hitting $1.15. The company had a trading volume of 154,484 shares, compared to its average volume of 1,649,569. The stock has a market cap of $440.33 million, a price-to-earnings ratio of -3.58 and a beta of 1.25. The company has a fifty day simple moving average of $1.30 and a two-hundred day simple moving average of $1.23. Standard BioTools has a one year low of $0.92 and a one year high of $2.26.

Insider Buying and Selling

In other Standard BioTools news, Director Casdin Partners Master Fund, L purchased 250,000 shares of Standard BioTools stock in a transaction dated Wednesday, September 3rd. The stock was acquired at an average price of $1.27 per share, for a total transaction of $317,500.00. Following the acquisition, the director owned 60,525,000 shares in the company, valued at $76,866,750. This trade represents a 0.41% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have bought 1,233,220 shares of company stock worth $1,546,446. Company insiders own 23.16% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jump Financial LLC purchased a new stake in Standard BioTools in the first quarter valued at about $26,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Standard BioTools by 115.6% in the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 27,119 shares of the company’s stock valued at $29,000 after purchasing an additional 14,541 shares during the last quarter. CWM LLC boosted its stake in Standard BioTools by 101.8% in the 1st quarter. CWM LLC now owns 29,705 shares of the company’s stock worth $32,000 after purchasing an additional 14,984 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in Standard BioTools in the 1st quarter worth approximately $35,000. Finally, BNP Paribas Financial Markets grew its position in 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 purchasing an additional 9,986 shares during the last quarter. 53.74% of the stock is currently owned by hedge funds and other institutional investors.

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.