Insider Buying: Standard BioTools (NASDAQ:LAB) Director Buys 7,550,000 Shares of Stock

Standard BioTools Inc. (NASDAQ:LAB) Director Casdin Partners Master Fund, L bought 7,550,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was purchased at an average price of $1.30 per share, for a total transaction of $9,815,000.00. Following the acquisition, the director directly owned 71,750,000 shares of the company’s stock, valued at approximately $93,275,000. The trade was a 11.76% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Casdin Partners Master Fund, L also recently made the following trade(s):

• On Monday, November 24th, Casdin Partners Master Fund, L purchased 150,000 shares of Standard BioTools stock. The shares were acquired at an average price of $1.43 per share, for a total transaction of $214,500.00.
• On Thursday, November 20th, Casdin Partners Master Fund, L purchased 450,000 shares of Standard BioTools stock. The stock was acquired at an average cost of $1.30 per share, with a total value of $585,000.00.
• On Wednesday, November 19th, Casdin Partners Master Fund, L bought 350,000 shares of Standard BioTools stock. The shares were bought at an average cost of $1.28 per share, for a total transaction of $448,000.00.
• On Tuesday, November 18th, Casdin Partners Master Fund, L bought 275,000 shares of Standard BioTools stock. The stock was purchased at an average cost of $1.23 per share, with a total value of $338,250.00.
• On Monday, November 17th, Casdin Partners Master Fund, L purchased 225,000 shares of Standard BioTools stock. The shares were acquired at an average cost of $1.22 per share, with a total value of $274,500.00.
• On Friday, November 14th, Casdin Partners Master Fund, L bought 250,000 shares of Standard BioTools stock. The stock was bought at an average cost of $1.24 per share, for a total transaction of $310,000.00.
• On Thursday, November 13th, Casdin Partners Master Fund, L purchased 450,000 shares of Standard BioTools stock. The stock was purchased at an average price of $1.20 per share, for a total transaction of $540,000.00.
• On Wednesday, November 12th, Casdin Partners Master Fund, L acquired 375,000 shares of Standard BioTools stock. The shares were purchased at an average price of $1.19 per share, with a total value of $446,250.00.
• On Tuesday, November 11th, Casdin Partners Master Fund, L bought 300,000 shares of Standard BioTools stock. The stock was purchased at an average cost of $1.20 per share, with a total value of $360,000.00.
• On Monday, November 10th, Casdin Partners Master Fund, L bought 275,000 shares of Standard BioTools stock. The stock was purchased at an average price of $1.17 per share, for a total transaction of $321,750.00.

Standard BioTools Stock Performance

Shares of LAB traded up $0.01 on Wednesday, hitting $1.43. 1,526,650 shares of the stock traded hands, compared to its average volume of 1,706,018. Standard BioTools Inc. has a one year low of $0.92 and a one year high of $2.25. The company has a market capitalization of $549.93 million, a PE ratio of -4.47 and a beta of 1.25. The business has a 50 day simple moving average of $1.29 and a 200 day simple moving average of $1.24.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LAB. Cowen cut shares of Standard BioTools from a “buy” rating to a “hold” rating in a report on Wednesday, August 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Standard BioTools in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Standard BioTools from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Finally, TD Cowen lowered their price target on shares of Standard BioTools from $1.55 to $1.35 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $1.35.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Standard BioTools by 0.4% during the first quarter. Vanguard Group Inc. now owns 17,225,250 shares of the company’s stock valued at $18,603,000 after acquiring an additional 69,104 shares during the last quarter. Rhumbline Advisers boosted its holdings in Standard BioTools by 11.4% in the first quarter. Rhumbline Advisers now owns 412,761 shares of the company’s stock worth $446,000 after acquiring an additional 42,247 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Standard BioTools in the 1st quarter valued at approximately $171,000. Pacific Capital Partners Ltd purchased a new stake in Standard BioTools during the 1st quarter worth approximately $1,701,000. Finally, Long Focus Capital Management LLC acquired a new stake in shares of Standard BioTools during the first quarter worth $7,236,000. Hedge funds and other 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.