Standard BioTools (NASDAQ:LAB) Shares Up 9.9% – Still a Buy?

Shares of Standard BioTools Inc. (NASDAQ:LAB) were up 9.9% during mid-day trading on Monday . The stock traded as high as $2.10 and last traded at $2.10. Approximately 754,739 shares traded hands during trading, a decline of 69% from the average daily volume of 2,396,670 shares. The stock had previously closed at $1.91.

Wall Street Analyst Weigh In

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

Standard BioTools Price Performance

The company’s fifty day simple moving average is $1.85 and its 200-day simple moving average is $1.95. The firm has a market capitalization of $796.63 million, a PE ratio of -2.99 and a beta of 1.61.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System raised its holdings in shares of Standard BioTools by 16.6% during the second quarter. Arizona State Retirement System now owns 69,596 shares of the company’s stock valued at $123,000 after acquiring an additional 9,933 shares during the last quarter. XTX Topco Ltd increased its position in shares of Standard BioTools by 38.2% during the second quarter. XTX Topco Ltd now owns 35,965 shares of the company’s stock worth $64,000 after purchasing an additional 9,947 shares in the last quarter. Victory Capital Management Inc. raised its stake in Standard BioTools by 27.3% in the 2nd quarter. Victory Capital Management Inc. now owns 46,967 shares of the company’s stock valued at $83,000 after purchasing an additional 10,067 shares during the last quarter. Wolverine Trading LLC purchased a new position in Standard BioTools in the 3rd quarter valued at $27,000. Finally, Nisa Investment Advisors LLC boosted its stake in Standard BioTools by 433.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 18,128 shares of the company’s stock worth $35,000 after purchasing an additional 14,732 shares during the last quarter. 53.74% of the stock is owned by hedge funds and other institutional investors.

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.