Standard BioTools (NASDAQ:LAB) Stock Price Down 8.5% – Time to Sell?

Standard BioTools Inc. (NASDAQ:LAB) shares traded down 8.5% during trading on Thursday . The stock traded as low as $1.68 and last traded at $1.68. 139,483 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 1,807,851 shares. The stock had previously closed at $1.83.

Wall Street Analysts Forecast Growth

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

Standard BioTools Stock Performance

The firm’s 50 day moving average is $1.82 and its 200 day moving average is $1.90.

Hedge Funds Weigh In On Standard BioTools

A number of large investors have recently made changes to their positions in the business. Wolverine Trading LLC purchased a new position in Standard BioTools during the 3rd quarter worth $27,000. Xponance Inc. acquired a new stake in Standard BioTools in the second quarter worth about $34,000. Nisa Investment Advisors LLC grew its stake in shares of 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 acquiring an additional 14,732 shares during the last quarter. Creative Planning acquired a new position in shares of Standard BioTools during the third quarter valued at about $39,000. Finally, Algert Global LLC purchased a new position in shares of Standard BioTools in the 2nd quarter valued at approximately $44,000. 53.74% of the stock is owned by institutional investors and hedge funds.

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.