Standard BioTools (NASDAQ:LAB) Stock Price Down 8.5% – Here’s What Happened

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

Analyst Upgrades and Downgrades

Separately, TD Cowen lowered their price target on shares of 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 company has a 50-day simple moving average of $1.82 and a 200-day simple moving average of $1.90.

Hedge Funds Weigh In On Standard BioTools

Several hedge funds have recently bought and sold shares of LAB. Hollow Brook Wealth Management LLC bought a new stake in shares of Standard BioTools during the third quarter valued at approximately $10,679,000. Charles Schwab Investment Management Inc. increased its holdings in Standard BioTools by 188.6% during the 3rd 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 period. State Street Corp raised its position in Standard BioTools by 26.7% during the 3rd 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 in the last quarter. Barclays PLC lifted its holdings in shares of Standard BioTools by 13.2% in the 3rd quarter. Barclays PLC now owns 3,228,360 shares of the company’s stock worth $6,231,000 after buying an additional 377,195 shares during the period. Finally, Royce & Associates LP grew its position in shares of Standard BioTools by 102.0% during the 3rd quarter. Royce & Associates LP now owns 614,552 shares of the company’s stock worth $1,186,000 after buying an additional 310,321 shares in the last quarter. 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.