Standard BioTools (NASDAQ:LAB) Shares Gap Up – What’s Next?

Standard BioTools Inc. (NASDAQ:LAB) shares gapped up before the market opened 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 traded.

Wall Street Analysts Forecast Growth

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

Standard BioTools Stock Performance

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

Institutional Trading of Standard BioTools

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Standard BioTools by 215.3% during the 1st quarter. Vanguard Group Inc. now owns 13,034,043 shares of the company’s stock valued at $35,322,000 after acquiring an additional 8,900,104 shares in the last quarter. CANADA LIFE ASSURANCE Co acquired a new stake in shares of Standard BioTools in the 1st quarter worth about $58,000. Price T Rowe Associates Inc. MD lifted its position in Standard BioTools by 157.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 68,869 shares of the company’s stock valued at $187,000 after purchasing an additional 42,069 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of Standard BioTools during the first quarter valued at approximately $196,000. Finally, California State Teachers Retirement System bought a new position in Standard BioTools in the 1st quarter worth approximately $529,000. 53.74% of the stock is owned by institutional investors and hedge funds.

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.