Standard BioTools Inc. (NASDAQ:LAB) Short Interest Down 24.9% in November

Standard BioTools Inc. (NASDAQ:LAB - Get Free Report) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 14,680,000 shares, a decline of 24.9% from the October 31st total of 19,540,000 shares. Approximately 4.1% of the company's stock are sold short. Based on an average daily trading volume, of 1,860,000 shares, the short-interest ratio is currently 7.9 days.

Analyst Upgrades and Downgrades

Separately, TD Cowen dropped their price objective on shares of Standard BioTools from $2.75 to $2.50 and set a "buy" rating on the stock in a research note on Thursday, October 31st.

Hedge Funds Weigh In On Standard BioTools

Several institutional investors and hedge funds have recently modified their holdings of LAB. Vanguard Group Inc. increased its position in shares of Standard BioTools by 215.3% during the first quarter. Vanguard Group Inc. now owns 13,034,043 shares of the company's stock valued at $35,322,000 after acquiring an additional 8,900,104 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Standard BioTools by 20.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,642,271 shares of the company's stock worth $18,837,000 after purchasing an additional 1,788,780 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Standard BioTools by 3,691.1% in the second quarter. Rhumbline Advisers now owns 407,467 shares of the company's stock worth $721,000 after purchasing an additional 396,719 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Standard BioTools by 1,019.8% during the second quarter. Bank of New York Mellon Corp now owns 980,983 shares of the company's stock valued at $1,736,000 after purchasing an additional 893,383 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Standard BioTools by 268.8% during the second quarter. American Century Companies Inc. now owns 97,307 shares of the company's stock valued at $172,000 after buying an additional 70,924 shares during the last quarter. 53.74% of the stock is currently owned by institutional investors.

Standard BioTools Price Performance

LAB stock traded up $0.02 on Friday, reaching $1.84. 905,994 shares of the company traded hands, compared to its average volume of 2,449,852. The firm has a fifty day simple moving average of $1.85 and a 200-day simple moving average of $2.00. The company has a market cap of $684.96 million, a P/E ratio of -2.59 and a beta of 1.57. Standard BioTools has a one year low of $1.21 and a one year high of $3.04.

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.