Standard BioTools (NASDAQ:LAB) Shares Gap Up – Time to Buy?

Shares of Standard BioTools Inc. (NASDAQ:LAB) gapped up prior to trading on Friday . The stock had previously closed at $1.71, but opened at $1.82. Standard BioTools shares last traded at $1.82, with a volume of 88,225 shares changing hands.

Wall Street Analysts Forecast Growth

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 research note on Thursday, October 31st.

Standard BioTools Stock Performance

The business has a 50-day moving average of $1.85 and a 200 day moving average of $2.01.

Institutional Trading of Standard BioTools

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Standard BioTools by 215.3% during the first quarter. Vanguard Group Inc. now owns 13,034,043 shares of the company’s stock worth $35,322,000 after buying an additional 8,900,104 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Standard BioTools by 20.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,642,271 shares of the company’s stock worth $18,837,000 after buying an additional 1,788,780 shares during the last quarter. Rhumbline Advisers raised its position in shares of Standard BioTools by 3,691.1% in the 2nd quarter. Rhumbline Advisers now owns 407,467 shares of the company’s stock worth $721,000 after buying an additional 396,719 shares during the period. Bank of New York Mellon Corp grew its position in Standard BioTools by 1,019.8% during the second quarter. Bank of New York Mellon Corp now owns 980,983 shares of the company’s stock valued at $1,736,000 after acquiring an additional 893,383 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Standard BioTools by 268.8% in the 2nd quarter. American Century Companies Inc. now owns 97,307 shares of the company’s stock valued at $172,000 after purchasing an additional 70,924 shares in the last quarter. 53.74% of the stock is owned by hedge funds and other institutional investors.

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.