Nikko Asset Management Americas Inc. Cuts Stock Position in Standard BioTools Inc. (NASDAQ:LAB)

Nikko Asset Management Americas Inc. decreased its stake in Standard BioTools Inc. (NASDAQ:LAB - Free Report) by 30.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,618,394 shares of the company's stock after selling 2,954,098 shares during the quarter. Nikko Asset Management Americas Inc. owned approximately 1.78% of Standard BioTools worth $11,516,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Geode Capital Management LLC grew its holdings in shares of Standard BioTools by 2.3% during the third quarter. Geode Capital Management LLC now owns 6,949,717 shares of the company's stock worth $13,415,000 after buying an additional 154,848 shares in the last quarter. Hollow Brook Wealth Management LLC acquired a new stake in Standard BioTools in the 3rd quarter valued at about $10,679,000. State Street Corp lifted its stake in Standard BioTools by 26.7% in the 3rd quarter. State Street Corp now owns 5,495,136 shares of the company's stock worth $10,606,000 after purchasing an additional 1,157,984 shares in the last quarter. Barclays PLC boosted its holdings in shares of Standard BioTools by 13.2% during the 3rd quarter. Barclays PLC now owns 3,228,360 shares of the company's stock worth $6,231,000 after purchasing an additional 377,195 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position 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 valued at $4,719,000 after purchasing an additional 1,597,728 shares in the last quarter. Hedge funds and other institutional investors own 53.74% of the company's stock.

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Analysts Set New Price Targets

Separately, KeyCorp downgraded Standard BioTools from an "overweight" rating to a "sector weight" rating in a research report on Thursday, February 27th.

Insider Activity at Standard BioTools

In related news, Director Casdin Partners Master Fund, L bought 4,820,959 shares of the firm's stock in a transaction on Friday, February 28th. The shares were bought at an average price of $1.06 per share, with a total value of $5,110,216.54. Following the completion of the transaction, the director now directly owns 58,846,780 shares of the company's stock, valued at $62,377,586.80. This represents a 8.92 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 53.10% of the stock is currently owned by insiders.

Standard BioTools Trading Up 4.3 %

LAB stock traded up $0.05 during trading on Friday, reaching $1.21. 2,258,534 shares of the stock were exchanged, compared to its average volume of 2,370,481. The business has a 50 day moving average price of $1.41 and a 200-day moving average price of $1.72. Standard BioTools Inc. has a 1 year low of $0.99 and a 1 year high of $3.04. The firm has a market capitalization of $458.57 million, a price-to-earnings ratio of -1.70 and a beta of 1.62.

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.