Standard BioTools (NASDAQ:LAB) Shares Gap Up - Here's Why

Standard BioTools Inc. (NASDAQ:LAB - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $1.63, but opened at $1.85. Standard BioTools shares last traded at $1.73, with a volume of 333,229 shares traded.

Analyst Upgrades and Downgrades

Separately, TD Cowen reduced their price objective on Standard BioTools from $2.75 to $2.50 and set a "buy" rating for the company in a report on Thursday, October 31st.

Standard BioTools Price Performance

The firm has a market capitalization of $772.44 million, a price-to-earnings ratio of -2.92 and a beta of 1.57. The firm's 50-day simple moving average is $1.86 and its 200 day simple moving average is $1.90.

Institutional Trading of Standard BioTools

Several institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in 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 valued at $4,719,000 after acquiring an additional 1,597,728 shares during the last quarter. State Street Corp boosted its position in shares of Standard BioTools by 26.7% during 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 position 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 in the last quarter. Rhumbline Advisers boosted its position in shares of Standard BioTools by 3,691.1% during the 2nd quarter. Rhumbline Advisers now owns 407,467 shares of the company's stock worth $721,000 after purchasing an additional 396,719 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Standard BioTools by 1,019.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 980,983 shares of the company's stock worth $1,736,000 after purchasing an additional 893,383 shares in the last quarter. Institutional investors 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.