Standard BioTools Inc. (NASDAQ:LAB) Sees Large Decrease in Short Interest

Standard BioTools Inc. (NASDAQ:LAB) saw a significant drop in short interest in July. As of July 15th, there was short interest totaling 2,213,551 shares, a drop of 35.4% from the June 30th total of 3,425,003 shares. Based on an average daily volume of 3,059,750 shares, the short-interest ratio is currently 0.7 days. Currently, 0.8% of the company’s stock are sold short.

Standard BioTools Price Performance

Shares of Standard BioTools stock opened at $0.87 on Friday. The firm has a market cap of $338.84 million, a PE ratio of 4.34 and a beta of 1.42. Standard BioTools has a 1 year low of $0.70 and a 1 year high of $1.72. The stock has a fifty day moving average price of $0.90 and a 200-day moving average price of $1.03.

Institutional Trading of Standard BioTools

Large investors have recently added to or reduced their stakes in the stock. Casdin Capital LLC raised its position in Standard BioTools by 14.5% in the fourth quarter. Casdin Capital LLC now owns 88,783,856 shares of the company’s stock worth $113,643,000 after acquiring an additional 11,225,000 shares during the period. Mak Capital One LLC boosted its stake in Standard BioTools by 21.1% in the fourth quarter. Mak Capital One LLC now owns 19,288,158 shares of the company’s stock valued at $24,689,000 after acquiring an additional 3,356,352 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Standard BioTools by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 17,245,583 shares of the company’s stock valued at $22,419,000 after acquiring an additional 263,845 shares during the period. State Street Corp increased its stake in shares of Standard BioTools by 1.3% during the 4th quarter. State Street Corp now owns 6,482,766 shares of the company’s stock worth $8,298,000 after purchasing an additional 80,117 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Standard BioTools by 133.0% during the 4th quarter. Millennium Management LLC now owns 3,387,428 shares of the company’s stock worth $4,336,000 after purchasing an additional 1,933,853 shares during the last quarter. Hedge funds and other institutional investors own 53.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Standard BioTools from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $1.35.

About Standard BioTools

Standard BioTools, Inc (NASDAQ: LAB), formerly known as Fluidigm Corporation, is a life sciences tools company that develops and commercializes high-parameter, single-cell and spatial biology solutions. The company’s platforms integrate microfluidics, mass cytometry, sequencing and imaging to enable researchers to probe cellular heterogeneity, molecular interactions and complex tissue architecture. Its end users span academic institutions, pharmaceutical and biotechnology companies worldwide.

The company’s flagship products include mass cytometry systems—such as the Helios and Hyperion Imaging System—for multiplexed protein analysis at single-cell resolution, and the Chromium-style single-cell genomic tools for high-throughput gene expression profiling.