Standard BioTools Inc. (NASDAQ:LAB - Get Free Report)'s share price was down 6.8% during mid-day trading on Wednesday . The stock traded as low as $2.06 and last traded at $2.06. Approximately 720,887 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 2,393,990 shares. The stock had previously closed at $2.21.
Wall Street Analyst Weigh In
Separately, TD Cowen dropped their price objective on shares of Standard BioTools from $2.75 to $2.50 and set a "buy" rating for the company in a report on Thursday, October 31st.
Read Our Latest Report on Standard BioTools
Standard BioTools Price Performance
The firm has a market capitalization of $740.80 million, a price-to-earnings ratio of -2.80 and a beta of 1.61. The stock has a fifty day moving average of $1.86 and a two-hundred day moving average of $1.94.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wolverine Trading LLC acquired a new position in shares of Standard BioTools in the 3rd quarter valued at about $27,000. Xponance Inc. acquired a new position in Standard BioTools in the second quarter valued at approximately $34,000. Nisa Investment Advisors LLC lifted its stake in Standard BioTools by 433.8% in the third quarter. Nisa Investment Advisors LLC now owns 18,128 shares of the company's stock valued at $35,000 after buying an additional 14,732 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Standard BioTools during the 2nd quarter worth approximately $39,000. Finally, Creative Planning acquired a new stake in shares of Standard BioTools during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 53.74% of the company's stock.
Standard BioTools Company Profile
(
Get Free Report)
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.
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