Standard BioTools (NASDAQ:LAB) Trading 7.1% Higher – Should You Buy?

Standard BioTools Inc. (NASDAQ:LAB)’s stock price rose 7.1% during mid-day trading on Friday . The stock traded as high as $1.43 and last traded at $1.43. Approximately 601,803 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 1,865,265 shares. The stock had previously closed at $1.33.

Analyst Upgrades and Downgrades

Separately, TD Cowen cut 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 Price Performance

The company has a 50-day simple moving average of $1.74 and a 200-day simple moving average of $1.82.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Jane Street Group LLC increased its position in shares of Standard BioTools by 30.3% in the fourth quarter. Jane Street Group LLC now owns 236,833 shares of the company’s stock valued at $414,000 after buying an additional 55,019 shares in the last quarter. Northern Trust Corp increased its position in shares of Standard BioTools by 9.3% in the fourth quarter. Northern Trust Corp now owns 2,875,160 shares of the company’s stock valued at $5,032,000 after buying an additional 243,522 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Standard BioTools in the fourth quarter valued at $45,000. Two Sigma Securities LLC purchased a new position in shares of Standard BioTools in the fourth quarter valued at $30,000. Finally, Evercore Wealth Management LLC purchased a new position in shares of Standard BioTools in the fourth quarter valued at $219,000. 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.