Standard BioTools (NASDAQ:LAB) Shares Up 9.9% – Time to Buy?

Standard BioTools Inc. (NASDAQ:LAB) shares traded up 9.9% on Monday . The company traded as high as $2.10 and last traded at $2.10. 754,739 shares were traded during mid-day trading, a decline of 69% from the average session volume of 2,396,670 shares. The stock had previously closed at $1.91.

Wall Street Analyst Weigh In

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

Standard BioTools Price Performance

The company has a market cap of $796.63 million, a price-to-earnings ratio of -2.99 and a beta of 1.61. The firm has a 50 day simple moving average of $1.85 and a 200-day simple moving average of $1.95.

Institutional Trading of Standard BioTools

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System increased its position in shares of Standard BioTools by 16.6% during the second quarter. Arizona State Retirement System now owns 69,596 shares of the company’s stock valued at $123,000 after acquiring an additional 9,933 shares during the last quarter. XTX Topco Ltd boosted its position in shares of Standard BioTools by 38.2% during the second quarter. XTX Topco Ltd now owns 35,965 shares of the company’s stock worth $64,000 after buying an additional 9,947 shares during the period. Victory Capital Management Inc. boosted its holdings in Standard BioTools by 27.3% during the 2nd quarter. Victory Capital Management Inc. now owns 46,967 shares of the company’s stock valued at $83,000 after acquiring an additional 10,067 shares during the period. Wolverine Trading LLC acquired a new position in Standard BioTools in the 3rd quarter valued at about $27,000. Finally, Nisa Investment Advisors LLC increased its stake in Standard BioTools by 433.8% during the third 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 during the period. 53.74% of the stock is currently owned by hedge funds and other institutional investors.

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.