Standard BioTools (NASDAQ:LAB) Trading Down 5.8% – Should You Sell?

Shares of Standard BioTools Inc. (NASDAQ:LAB) were down 5.8% on Wednesday . The company traded as low as $1.56 and last traded at $1.56. Approximately 844,893 shares changed hands during trading, a decline of 54% from the average daily volume of 1,822,898 shares. The stock had previously closed at $1.65.

Analyst Upgrades and Downgrades

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 report on Thursday, October 31st.

Standard BioTools Stock Down 3.7 %

The company has a market cap of $577.00 million, a price-to-earnings ratio of -2.18 and a beta of 1.57. The company has a fifty day simple moving average of $1.82 and a two-hundred day simple moving average of $1.89.

Institutional Trading of Standard BioTools

Large investors have recently bought and sold shares of the company. American Century Companies Inc. lifted its position in shares of Standard BioTools by 268.8% in the second quarter. American Century Companies Inc. now owns 97,307 shares of the company’s stock valued at $172,000 after acquiring an additional 70,924 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Standard BioTools by 38.2% in the second quarter. XTX Topco Ltd now owns 35,965 shares of the company’s stock valued at $64,000 after acquiring an additional 9,947 shares in the last quarter. Xponance Inc. purchased a new stake in shares of Standard BioTools in the second quarter valued at $34,000. Squarepoint Ops LLC lifted its position in shares of Standard BioTools by 130.1% in the second quarter. Squarepoint Ops LLC now owns 305,516 shares of the company’s stock valued at $541,000 after acquiring an additional 172,738 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Standard BioTools by 283.5% in the second quarter. AQR Capital Management LLC now owns 243,237 shares of the company’s stock valued at $431,000 after acquiring an additional 179,817 shares in the last quarter. Institutional investors and hedge funds own 53.74% of the company’s stock.

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.