Sumitomo Mitsui Trust Group Inc. Decreases Holdings in Standard BioTools Inc. (NASDAQ:LAB)

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Standard BioTools Inc. (NASDAQ:LAB - Free Report) by 10.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,578,563 shares of the company's stock after selling 1,063,708 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 2.58% of Standard BioTools worth $18,487,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in LAB. Freestone Capital Holdings LLC purchased a new position in shares of Standard BioTools during the first quarter worth about $31,000. Xponance Inc. purchased a new position in shares of Standard BioTools during the second quarter worth about $34,000. Nisa Investment Advisors LLC grew its holdings in shares of Standard BioTools by 433.8% during the third quarter. Nisa Investment Advisors LLC now owns 18,128 shares of the company's stock worth $35,000 after buying an additional 14,732 shares during the last quarter. Shell Asset Management Co. purchased a new position in shares of Standard BioTools during the first quarter worth about $39,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Standard BioTools during the second quarter worth about $39,000. Institutional investors and hedge funds own 53.74% of the company's stock.

Analysts Set New Price Targets

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

Standard BioTools Stock Performance

LAB traded down $0.08 during trading on Monday, reaching $1.50. The company's stock had a trading volume of 2,359,560 shares, compared to its average volume of 2,464,995. Standard BioTools Inc. has a 52-week low of $1.21 and a 52-week high of $3.04. The company's fifty day moving average price is $1.92 and its 200-day moving average price is $2.05. The company has a market capitalization of $558.39 million, a price-to-earnings ratio of -2.12 and a beta of 1.57.

Insider Buying and Selling at Standard BioTools

In other Standard BioTools news, Director Casdin Partners Master Fund, L acquired 150,000 shares of the stock in a transaction on Monday, August 26th. The shares were bought at an average price of $2.15 per share, with a total value of $322,500.00. Following the acquisition, the director now owns 53,775,821 shares of the company's stock, valued at $115,618,015.15. This trade represents a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have acquired 942,100 shares of company stock valued at $1,894,673. 53.10% of the stock is owned by corporate insiders.

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.