Standard BioTools (NASDAQ:LAB) Shares Gap Down – Here’s Why

Standard BioTools Inc. (NASDAQ:LAB) 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.

Analysts Set New Price Targets

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

Standard BioTools Stock Performance

The company has a 50 day moving average of $1.82 and a 200-day moving average of $1.90.

Institutional Investors Weigh In On Standard BioTools

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in shares of Standard BioTools by 2.3% in the 3rd 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 during the last quarter. Hollow Brook Wealth Management LLC bought a new position in Standard BioTools in the third quarter valued at $10,679,000. State Street Corp raised its position in Standard BioTools by 26.7% during 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 in the last quarter. Barclays PLC lifted its stake in Standard BioTools by 13.2% during the third quarter. Barclays PLC now owns 3,228,360 shares of the company’s stock worth $6,231,000 after purchasing an additional 377,195 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings 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 worth $4,719,000 after purchasing an additional 1,597,728 shares in the last quarter. 53.74% of the stock is owned by hedge funds and other institutional investors.

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.