Amova Asset Management Americas Inc. Sells 3,893,103 Shares of Standard BioTools Inc. $LAB

Amova Asset Management Americas Inc. reduced its stake in Standard BioTools Inc. (NASDAQ:LAB) by 89.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 442,784 shares of the company’s stock after selling 3,893,103 shares during the period. Amova Asset Management Americas Inc.’s holdings in Standard BioTools were worth $407,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Casdin Capital LLC boosted its position in shares of Standard BioTools by 14.5% during the fourth quarter. Casdin Capital LLC now owns 88,783,856 shares of the company’s stock valued at $113,643,000 after purchasing an additional 11,225,000 shares in the last quarter. Staley Capital Advisers Inc. purchased a new position in Standard BioTools during the first quarter valued at $581,000. CIBC Asset Management Inc purchased a new stake in shares of Standard BioTools in the 4th quarter worth about $33,000. Russell Investments Group Ltd. increased its stake in shares of Standard BioTools by 2,989.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 25,021 shares of the company’s stock worth $33,000 after acquiring an additional 24,211 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in Standard BioTools during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 53.74% of the company’s stock.

Standard BioTools Trading Up 4.0%

NASDAQ:LAB opened at $0.88 on Wednesday. Standard BioTools Inc. has a 12 month low of $0.70 and a 12 month high of $1.72. The company has a market cap of $345.13 million, a PE ratio of 4.42 and a beta of 1.42. The company has a 50 day simple moving average of $0.93 and a two-hundred day simple moving average of $1.06.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Standard BioTools from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Standard BioTools currently has an average rating of “Reduce” and an average target price 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.