Primecap Management Co. CA Cuts Position in Standard BioTools Inc. (NASDAQ:LAB)

Primecap Management Co. CA reduced its holdings in shares of Standard BioTools Inc. (NASDAQ:LAB) by 78.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 641,974 shares of the company’s stock after selling 2,320,149 shares during the period. Primecap Management Co. CA’s holdings in Standard BioTools were worth $1,123,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in shares of Standard BioTools by 2.3% in the third quarter. Geode Capital Management LLC now owns 6,949,717 shares of the company’s stock valued at $13,415,000 after buying an additional 154,848 shares in the last quarter. Hollow Brook Wealth Management LLC purchased a new position in Standard BioTools in the 3rd quarter worth approximately $10,679,000. State Street Corp grew its position 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 acquiring an additional 1,157,984 shares in the last quarter. Barclays PLC raised its stake in shares of Standard BioTools by 13.2% during the third quarter. Barclays PLC now owns 3,228,360 shares of the company’s stock valued at $6,231,000 after purchasing an additional 377,195 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Standard BioTools by 188.6% during 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 in the last quarter. Institutional investors and hedge funds own 53.74% of the company’s stock.

Standard BioTools Stock Performance

Shares of LAB opened at $1.18 on Thursday. Standard BioTools Inc. has a one year low of $0.99 and a one year high of $3.04. The stock has a 50-day moving average price of $1.42 and a 200 day moving average price of $1.72. The company has a market capitalization of $447.20 million, a P/E ratio of -1.66 and a beta of 1.62.

Wall Street Analyst Weigh In

Separately, KeyCorp lowered shares of Standard BioTools from an “overweight” rating to a “sector weight” rating in a report on Thursday, February 27th.

Insider Buying and Selling at Standard BioTools

In related news, Director Casdin Partners Master Fund, L bought 4,820,959 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $1.06 per share, with a total value of $5,110,216.54. Following the transaction, the director now owns 58,846,780 shares of the company’s stock, valued at approximately $62,377,586.80. This trade represents a 8.92 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 53.10% of the stock is currently owned by corporate insiders.

Standard BioTools 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.