Standard BioTools (NASDAQ:LAB) Stock Price Up 7.3% – Here’s What Happened

Standard BioTools Inc. (NASDAQ:LAB)’s stock price traded up 7.3% during mid-day trading on Wednesday . The stock traded as high as $1.86 and last traded at $1.84. 730,664 shares traded 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.

Analyst Upgrades and Downgrades

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

Standard BioTools Stock Up 6.4 %

The stock’s fifty day moving average price is $1.85 and its 200 day moving average price is $2.01.

Institutional Investors Weigh In On Standard BioTools

A number of large investors have recently added to or reduced their stakes in LAB. Wolverine Trading LLC bought a new position in shares of Standard BioTools during the 3rd quarter valued at about $27,000. Xponance Inc. purchased a new position in shares of Standard BioTools during the second quarter worth approximately $34,000. Nisa Investment Advisors LLC boosted its stake in shares of Standard BioTools by 433.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 18,128 shares of the company’s stock valued at $35,000 after purchasing an additional 14,732 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Standard BioTools during the 2nd quarter valued at $39,000. Finally, Creative Planning purchased a new position in Standard BioTools in the 3rd quarter worth $39,000. Hedge funds and other institutional investors 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.