Standard BioTools Inc. (NASDAQ:LAB) Sees Large Decrease in Short Interest

Standard BioTools Inc. (NASDAQ:LAB) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 3,425,003 shares, a decrease of 65.9% from the June 15th total of 10,029,339 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 6,850,088 shares, the short-interest ratio is presently 0.5 days.

Institutional Trading of Standard BioTools

A number of institutional investors have recently made changes to their positions in the stock. Casdin Capital LLC raised its holdings in shares of Standard BioTools by 14.5% during the fourth quarter. Casdin Capital LLC now owns 88,783,856 shares of the company’s stock valued at $113,643,000 after purchasing an additional 11,225,000 shares during the last quarter. Mak Capital One LLC grew its position in Standard BioTools by 184.6% in the 3rd quarter. Mak Capital One LLC now owns 15,931,806 shares of the company’s stock worth $20,711,000 after purchasing an additional 10,334,384 shares during the period. Millennium Management LLC boosted its stake in shares of Standard BioTools by 133.0% in the 4th quarter. Millennium Management LLC now owns 3,387,428 shares of the company’s stock worth $4,336,000 after buying an additional 1,933,853 shares during the last quarter. Long Focus Capital Management LLC boosted its stake in shares of Standard BioTools by 12.8% in the 3rd quarter. Long Focus Capital Management LLC now owns 11,362,804 shares of the company’s stock worth $14,772,000 after buying an additional 1,292,804 shares during the last quarter. Finally, Kent Lake PR LLC bought a new stake in shares of Standard BioTools in the second quarter worth $1,200,000. Hedge funds and other institutional investors own 53.74% of the company’s stock.

Standard BioTools Trading Down 1.3%

LAB stock traded down $0.01 during midday trading on Tuesday, hitting $0.84. The company’s stock had a trading volume of 2,517,812 shares, compared to its average volume of 2,847,872. The firm’s 50-day moving average is $0.95 and its 200-day moving average is $1.08. Standard BioTools has a 12 month low of $0.70 and a 12 month high of $1.72. The company has a market cap of $327.09 million, a PE ratio of 4.19 and a beta of 1.42.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Weiss Ratings downgraded Standard BioTools from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 27th. Wall Street Zen raised Standard BioTools from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $1.35.

About Standard BioTools

Standard BioTools, Inc (NASDAQ: LAB), formerly known as Fluidigm Corporation, is a life sciences tools company that develops and commercializes high-parameter, single-cell and spatial biology solutions. The company’s platforms integrate microfluidics, mass cytometry, sequencing and imaging to enable researchers to probe cellular heterogeneity, molecular interactions and complex tissue architecture. Its end users span academic institutions, pharmaceutical and biotechnology companies worldwide.

The company’s flagship products include mass cytometry systems—such as the Helios and Hyperion Imaging System—for multiplexed protein analysis at single-cell resolution, and the Chromium-style single-cell genomic tools for high-throughput gene expression profiling.