Standard BioTools (NASDAQ:LAB) Stock Price Up 6% – Here’s What Happened

Standard BioTools Inc. (NASDAQ:LAB)’s stock price rose 6% on Tuesday . The company traded as high as $2.05 and last traded at $2.05. Approximately 673,254 shares changed hands during trading, a decline of 72% from the average daily volume of 2,416,052 shares. The stock had previously closed at $1.93.

Analyst Upgrades and Downgrades

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

Standard BioTools Stock Performance

The business has a fifty day simple moving average of $1.84 and a 200-day simple moving average of $1.97. The firm has a market cap of $751.96 million, a price-to-earnings ratio of -2.88 and a beta of 1.61.

Institutional Investors Weigh In On Standard BioTools

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System increased its stake in shares of Standard BioTools by 16.6% in the second quarter. Arizona State Retirement System now owns 69,596 shares of the company’s stock valued at $123,000 after buying an additional 9,933 shares during the period. XTX Topco Ltd boosted its position in shares of Standard BioTools by 38.2% during the 2nd quarter. XTX Topco Ltd now owns 35,965 shares of the company’s stock valued at $64,000 after purchasing an additional 9,947 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Standard BioTools by 27.3% during the 2nd quarter. Victory Capital Management Inc. now owns 46,967 shares of the company’s stock valued at $83,000 after purchasing an additional 10,067 shares in the last quarter. Wolverine Trading LLC bought a new stake in shares of Standard BioTools during the 3rd quarter valued at about $27,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of Standard BioTools by 433.8% during 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. 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.