Needham Investment Management LLC Sells 200,000 Shares of Standard BioTools Inc. $LAB

by · The Markets Daily

Needham Investment Management LLC lowered its position in shares of Standard BioTools Inc. (NASDAQ:LAB – Free Report) by 27.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 534,435 shares of the company’s stock after selling 200,000 shares during the quarter. Needham Investment Management LLC owned 0.14% of Standard BioTools worth $577,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of LAB. Price T Rowe Associates Inc. MD lifted its stake in Standard BioTools by 10.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 181,468 shares of the company’s stock valued at $318,000 after purchasing an additional 16,475 shares during the last quarter. Northern Trust Corp lifted its stake in 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 purchasing an additional 243,522 shares during the last quarter. Jane Street Group LLC lifted its stake in 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 purchasing an additional 55,019 shares during the last quarter. Bank of America Corp DE lifted its stake in Standard BioTools by 20.3% in the fourth quarter. Bank of America Corp DE now owns 222,851 shares of the company’s stock valued at $390,000 after purchasing an additional 37,605 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in Standard BioTools by 53.3% in the fourth quarter. Deutsche Bank AG now owns 258,241 shares of the company’s stock valued at $452,000 after purchasing an additional 89,781 shares during the last quarter. Institutional investors own 53.74% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on LAB shares. TD Cowen downgraded Standard BioTools from a “buy” rating to a “hold” rating and set a $1.55 price objective on the stock. in a research note on Wednesday, August 13th. Cowen downgraded Standard BioTools from a “buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Finally, Wall Street Zen upgraded Standard BioTools from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $1.55.

View Our Latest Stock Report on LAB

Insider Activity

In related news, Director Casdin Partners Master Fund, L bought 250,000 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were purchased at an average price of $1.27 per share, for a total transaction of $317,500.00. Following the completion of the transaction, the director directly owned 60,525,000 shares in the company, valued at approximately $76,866,750. The trade was a 0.41% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 1,133,220 shares of company stock worth $1,417,446 in the last quarter. Corporate insiders own 23.16% of the company’s stock.

Standard BioTools Price Performance

NASDAQ:LAB opened at $1.30 on Friday. The company has a market cap of $496.59 million, a P/E ratio of -4.06 and a beta of 1.29. The stock’s fifty day moving average price is $1.30 and its two-hundred day moving average price is $1.18. Standard BioTools Inc. has a 1 year low of $0.92 and a 1 year high of $2.32.

Standard BioTools Profile

(Free Report)

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.

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