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

Primecap Management Co. CA trimmed its holdings in shares of Standard BioTools Inc. (NASDAQ:LAB - Free Report) by 78.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 641,974 shares of the company's stock after selling 2,320,149 shares during the period. Primecap Management Co. CA owned 0.17% of Standard BioTools worth $1,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in Standard BioTools by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 139,748 shares of the company's stock worth $270,000 after acquiring an additional 9,995 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Standard BioTools by 13.0% during the fourth quarter. HighTower Advisors LLC now owns 92,791 shares of the company's stock worth $162,000 after purchasing an additional 10,690 shares in the last quarter. Wolverine Trading LLC purchased a new stake in shares of Standard BioTools in the 3rd quarter valued at about $27,000. Cibc World Markets Corp acquired a new stake in shares of Standard BioTools in the 4th quarter valued at about $48,000. Finally, Simon Quick Advisors LLC purchased a new position in Standard BioTools during the 4th quarter worth approximately $54,000. 53.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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Standard BioTools Stock Performance

NASDAQ LAB traded down $0.06 during trading on Monday, reaching $1.15. The company's stock had a trading volume of 1,097,045 shares, compared to its average volume of 2,367,225. The business's fifty day moving average price is $1.40 and its 200-day moving average price is $1.71. Standard BioTools Inc. has a twelve month low of $0.99 and a twelve month high of $3.04. The firm has a market cap of $435.83 million, a price-to-earnings ratio of -1.62 and a beta of 1.62.

Insider Buying and Selling at Standard BioTools

In other news, Director Casdin Partners Master Fund, L acquired 4,820,959 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $1.06 per share, for a total transaction of $5,110,216.54. Following the transaction, the director now directly owns 58,846,780 shares in the company, valued at approximately $62,377,586.80. This represents a 8.92 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 53.10% of the stock is owned by company insiders.

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.