Standard BioTools (NASDAQ:LAB) Shares Gap Up – What’s Next?

Standard BioTools Inc. (NASDAQ:LAB) shares 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.

Wall Street Analyst Weigh In

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

Standard BioTools Stock Performance

The firm has a market cap of $753.82 million, a price-to-earnings ratio of -2.85 and a beta of 1.57. The company’s fifty day moving average is $1.86 and its two-hundred day moving average is $1.90.

Institutional Investors Weigh In On Standard BioTools

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Standard BioTools by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 139,748 shares of the company’s stock worth $270,000 after purchasing an additional 9,995 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Standard BioTools by 2.3% during the third quarter. Geode Capital Management LLC now owns 6,949,717 shares of the company’s stock worth $13,415,000 after buying an additional 154,848 shares in the last quarter. Barclays PLC increased its stake in shares of Standard BioTools by 13.2% in the third quarter. Barclays PLC now owns 3,228,360 shares of the company’s stock worth $6,231,000 after buying an additional 377,195 shares during the last quarter. XTX Topco Ltd raised its holdings in Standard BioTools by 133.1% in the third quarter. XTX Topco Ltd now owns 83,817 shares of the company’s stock valued at $162,000 after acquiring an additional 47,852 shares in the last quarter. Finally, Wolverine Trading LLC bought a new position in Standard BioTools during the 3rd quarter valued at $27,000. Hedge funds and other institutional investors own 53.74% of the company’s stock.

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.