Standard BioTools (NASDAQ:LAB) Shares Gap Down – Time to Sell?

Standard BioTools Inc. (NASDAQ:LAB)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $1.88, but opened at $1.82. Standard BioTools shares last traded at $1.88, with a volume of 82,337 shares.

Analyst Ratings Changes

Separately, TD Cowen reduced their target price 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

The stock’s fifty day moving average price is $1.82 and its two-hundred day moving average price is $1.90. The company has a market cap of $694.26 million, a P/E ratio of -2.63 and a beta of 1.57.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Standard BioTools by 188.6% in the 3rd 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 raised its position in Standard BioTools by 26.7% in the third quarter. State Street Corp now owns 5,495,136 shares of the company’s stock valued at $10,606,000 after purchasing an additional 1,157,984 shares during the last quarter. Barclays PLC boosted its stake in shares of Standard BioTools by 13.2% during the third quarter. Barclays PLC now owns 3,228,360 shares of the company’s stock valued at $6,231,000 after purchasing an additional 377,195 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Standard BioTools by 3,691.1% during the second quarter. Rhumbline Advisers now owns 407,467 shares of the company’s stock worth $721,000 after purchasing an additional 396,719 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Standard BioTools by 2.3% in the third quarter. Geode Capital Management LLC now owns 6,949,717 shares of the company’s stock valued at $13,415,000 after buying an additional 154,848 shares during the period. 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.