Standard BioTools (NASDAQ:LAB) Reaches New 12-Month Low – Here’s Why

Standard BioTools Inc. (NASDAQ:LAB)’s share price hit a new 52-week low on Wednesday . The company traded as low as $1.17 and last traded at $1.31, with a volume of 3060643 shares. The stock had previously closed at $1.31.

Analyst Upgrades and Downgrades

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

Standard BioTools Price Performance

The business’s fifty day simple moving average is $1.78 and its 200 day simple moving average is $1.85.

Hedge Funds Weigh In On Standard BioTools

Institutional investors have recently added to or reduced their stakes in the company. Wolverine Trading LLC acquired a new stake in shares of Standard BioTools in the 3rd quarter valued at about $27,000. Takeda Pharmaceutical Co. Ltd. acquired a new stake in shares of Standard BioTools in the 4th quarter valued at about $29,000. Nisa Investment Advisors LLC raised 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. Creative Planning acquired a new stake in shares of Standard BioTools in the 3rd quarter valued at about $39,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Standard BioTools in the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 53.74% of the company’s stock.

Standard BioTools Company Profile

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.