Needham Investment Management LLC Decreases Stock Position in Standard BioTools Inc. (NASDAQ:LAB)

Needham Investment Management LLC decreased its position in shares of Standard BioTools Inc. (NASDAQ:LAB) by 20.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 784,435 shares of the company’s stock after selling 200,000 shares during the period. Needham Investment Management LLC owned about 0.21% of Standard BioTools worth $1,514,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Hollow Brook Wealth Management LLC acquired a new position in shares of Standard BioTools in the 3rd quarter valued at approximately $10,679,000. MetLife Investment Management LLC grew its stake in Standard BioTools by 86.3% in the third quarter. MetLife Investment Management LLC now owns 143,325 shares of the company’s stock worth $277,000 after purchasing an additional 66,410 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Standard BioTools by 188.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,445,083 shares of the company’s stock worth $4,719,000 after buying an additional 1,597,728 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Standard BioTools in the 3rd quarter worth approximately $101,000. Finally, Royce & Associates LP boosted its holdings in Standard BioTools by 102.0% in the third quarter. Royce & Associates LP now owns 614,552 shares of the company’s stock worth $1,186,000 after purchasing an additional 310,321 shares during the period. Institutional investors and hedge funds own 53.74% of the company’s stock.

Analysts Set New Price Targets

Separately, TD Cowen dropped 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

NASDAQ:LAB opened at $1.83 on Wednesday. The stock has a market cap of $681.24 million, a price-to-earnings ratio of -2.58 and a beta of 1.61. Standard BioTools Inc. has a 1 year low of $1.21 and a 1 year high of $3.04. The business has a fifty day moving average of $1.84 and a 200-day moving average of $1.99.

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.