Standard BioTools Inc. (NASDAQ:LAB) Receives $1.35 Consensus Target Price from Brokerages

Standard BioTools Inc. (NASDAQ:LAB) has been assigned a consensus recommendation of “Reduce” from the five brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $1.35.

A number of equities research analysts have weighed in on the stock. Zacks Research upgraded shares of Standard BioTools to a “hold” rating in a research note on Thursday, December 11th. Wall Street Zen lowered Standard BioTools from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Standard BioTools in a report on Wednesday, October 8th. Finally, TD Cowen dropped their target price on Standard BioTools from $1.55 to $1.35 and set a “hold” rating on the stock in a research report on Wednesday, November 5th.

Insider Activity

In other Standard BioTools news, Director Casdin Partners Master Fund, L bought 7,550,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was bought at an average cost of $1.30 per share, for a total transaction of $9,815,000.00. Following the completion of the transaction, the director owned 71,750,000 shares of the company’s stock, valued at $93,275,000. This represents a 11.76% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 11,225,000 shares of company stock valued at $14,408,250 over the last quarter. Company insiders own 23.16% of the company’s stock.

Institutional Investors Weigh In On Standard BioTools

A number of hedge funds have recently modified their holdings of LAB. Mak Capital One LLC increased its stake in shares of Standard BioTools by 184.6% in the 3rd quarter. Mak Capital One LLC now owns 15,931,806 shares of the company’s stock worth $20,711,000 after purchasing an additional 10,334,384 shares in the last quarter. Long Focus Capital Management LLC bought a new stake in Standard BioTools during the first quarter valued at about $7,236,000. Casdin Capital LLC grew its holdings in Standard BioTools by 1.9% during the third quarter. Casdin Capital LLC now owns 77,558,856 shares of the company’s stock valued at $100,827,000 after purchasing an additional 1,483,220 shares during the period. Kent Lake PR LLC purchased a new stake in Standard BioTools in the second quarter worth about $1,200,000. Finally, Nuveen LLC bought a new position in shares of Standard BioTools in the first quarter worth about $862,000. Institutional investors own 53.74% of the company’s stock.

Standard BioTools Stock Up 4.0%

LAB opened at $1.55 on Friday. The firm has a 50 day moving average price of $1.33 and a 200-day moving average price of $1.29. Standard BioTools has a twelve month low of $0.92 and a twelve month high of $2.25. The stock has a market capitalization of $596.08 million, a price-to-earnings ratio of -4.56 and a beta of 1.24.

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.