Standard BioTools (NASDAQ:LAB) Shares Up 7.3% – What’s Next?

Standard BioTools Inc. (NASDAQ:LAB)’s share price shot up 7.3% during trading on Wednesday . The company traded as high as $1.86 and last traded at $1.84. 730,664 shares changed hands during trading, a decline of 70% from the average session volume of 2,452,241 shares. The stock had previously closed at $1.71.

Wall Street Analyst Weigh In

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

Standard BioTools Stock Up 6.4 %

The firm’s fifty day simple moving average is $1.86 and its 200-day simple moving average is $2.01. The firm has a market capitalization of $677.51 million, a PE ratio of -2.41 and a beta of 1.57.

Institutional Investors Weigh In On Standard BioTools

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Standard BioTools by 215.3% during the 1st quarter. Vanguard Group Inc. now owns 13,034,043 shares of the company’s stock valued at $35,322,000 after acquiring an additional 8,900,104 shares during the last quarter. Hollow Brook Wealth Management LLC purchased a new stake in Standard BioTools in the third quarter worth approximately $10,679,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in Standard BioTools by 20.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,642,271 shares of the company’s stock worth $18,837,000 after purchasing an additional 1,788,780 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Standard BioTools by 188.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,445,083 shares of the company’s stock valued at $4,719,000 after buying an additional 1,597,728 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Standard BioTools by 26.7% in the 3rd quarter. State Street Corp now owns 5,495,136 shares of the company’s stock worth $10,606,000 after buying an additional 1,157,984 shares during the last quarter. 53.74% of the stock is currently owned by 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.