Standard BioTools Inc. (NASDAQ:LAB) Short Interest Down 24.9% in November

Standard BioTools Inc. (NASDAQ:LAB) was the target of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 14,680,000 shares, a decline of 24.9% from the October 31st total of 19,540,000 shares. Currently, 4.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,860,000 shares, the short-interest ratio is presently 7.9 days.

Hedge Funds Weigh In On Standard BioTools

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

Standard BioTools Stock Performance

Shares of LAB traded up $0.02 during trading hours on Friday, reaching $1.84. The stock had a trading volume of 905,994 shares, compared to its average volume of 2,239,791. Standard BioTools has a 12 month low of $1.21 and a 12 month high of $3.04. The stock has a market capitalization of $684.96 million, a PE ratio of -2.59 and a beta of 1.57. The company’s 50-day moving average is $1.85 and its two-hundred day moving average is $2.00.

Analyst Ratings Changes

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

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.