Standard BioTools (NASDAQ:LAB) Shares Down 5.8% – Time to Sell?

Shares of Standard BioTools Inc. (NASDAQ:LABGet Free Report) traded down 5.8% during trading on Wednesday . The stock traded as low as $1.56 and last traded at $1.56. 844,893 shares traded hands during trading, a decline of 54% from the average session volume of 1,822,898 shares. The stock had previously closed at $1.65.

Wall Street Analysts Forecast Growth

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

View Our Latest Analysis on LAB

Standard BioTools Stock Performance

The company’s 50-day moving average price is $1.82 and its 200 day moving average price is $1.90. The stock has a market cap of $588.17 million, a PE ratio of -2.23 and a beta of 1.57.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LAB. XTX Topco Ltd raised its position in shares of Standard BioTools by 38.2% in the second quarter. XTX Topco Ltd now owns 35,965 shares of the company’s stock worth $64,000 after acquiring an additional 9,947 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Standard BioTools by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 139,748 shares of the company’s stock valued at $270,000 after purchasing an additional 9,995 shares during the last quarter. Wolverine Trading LLC purchased a new stake in shares of Standard BioTools in the 3rd quarter valued at approximately $27,000. 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 valued at $35,000 after buying an additional 14,732 shares during the period. Finally, Xponance Inc. purchased a new stake in Standard BioTools during the 2nd quarter worth approximately $34,000. Institutional investors own 53.74% of the company’s stock.

Standard BioTools Company Profile

(Get Free Report)

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.

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