Standard BioTools Inc. (NASDAQ:LAB) has received a consensus rating of “Reduce” from five research firms currently covering the stock, according to MarketBeat. One analyst has issued a sell recommendation, while four others have assigned the stock a hold recommendation. The average one-year price target among these analysts is set at $1.35.
Analyst reports have highlighted a range of opinions regarding Standard BioTools. On November 5, 2023, TD Cowen adjusted its price target for the company from $1.55 to $1.35, maintaining a “hold” rating. Just a few days later, on November 8, Wall Street Zen downgraded the stock from a “hold” to a “strong sell” rating. Zacks Research also raised its rating to “hold” on November 9. Additionally, Weiss Ratings reiterated a “sell (d-)” rating for Standard BioTools on October 8.
Institutional Investor Activity
Recent movements among institutional investors have impacted Standard BioTools’ stock. Vanguard Group Inc. increased its stake in the company by 0.4% in the first quarter, now holding 17,225,250 shares valued at approximately $18.6 million after acquiring an additional 69,104 shares.
Charles Schwab Investment Management Inc. raised its holdings by 4.7%, owning 2,443,060 shares valued at about $2.64 million following a purchase of 110,411 shares. Nuveen LLC entered a new position valued around $862,000, while HighTower Advisors LLC increased its stake by 10.8%, now owning 102,791 shares worth $111,000. EntryPoint Capital LLC also acquired a new stake worth $274,000. Currently, hedge funds and other institutional investors hold 53.74% of Standard BioTools’ stock.
Stock Performance and Company Overview
As of Friday, shares of Standard BioTools opened at $1.45. The company’s fifty-day moving average price is $1.32, and its two-hundred-day moving average stands at $1.28. Over the past year, the stock has experienced a low of $0.92 and a high of $2.25. Standard BioTools has a market capitalization of $557.63 million, with a price-to-earnings ratio of -4.26 and a beta of 1.24.
Standard BioTools Inc., along with its subsidiaries, provides a range of instruments, consumables, reagents, and software services tailored for researchers and clinical laboratories across the Americas, Europe, the Middle East, Africa, and the Asia-Pacific region. The company operates through two main segments: Proteomics and Genomics. Its product offerings include advanced analytical systems such as the CyTOF XT System, which performs high-parameter single-cell analysis, and the Hyperion XTi imaging system, used in spatial biology.
As the market continues to respond to analyst ratings and institutional investment shifts, Standard BioTools remains a closely watched entity in the biotechnology sector.
