Sumitomo Mitsui Trust Group Inc. Sells 773,708 Shares of Standard BioTools Inc. $LAB

Sumitomo Mitsui Trust Group Inc. cut its stake in Standard BioTools Inc. (NASDAQ:LAB) by 12.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,391,829 shares of the company’s stock after selling 773,708 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Standard BioTools were worth $7,009,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets raised its stake in shares of Standard BioTools by 50.3% in the second quarter. BNP Paribas Financial Markets now owns 29,826 shares of the company’s stock valued at $36,000 after acquiring an additional 9,986 shares during the period. SG Americas Securities LLC grew its holdings in Standard BioTools by 167.8% during the 3rd quarter. SG Americas Securities LLC now owns 33,039 shares of the company’s stock valued at $43,000 after purchasing an additional 20,700 shares during the last quarter. Jane Street Group LLC purchased a new stake in Standard BioTools in the 2nd quarter worth about $43,000. Cerity Partners LLC raised its position in Standard BioTools by 70.2% in the 2nd quarter. Cerity Partners LLC now owns 37,501 shares of the company’s stock worth $45,000 after purchasing an additional 15,470 shares during the period. Finally, Prudential Financial Inc. lifted its stake in Standard BioTools by 72.7% in the second quarter. Prudential Financial Inc. now owns 39,307 shares of the company’s stock worth $47,000 after purchasing an additional 16,541 shares during the last quarter. 53.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Standard BioTools

In other Standard BioTools news, Director Casdin Partners Master Fund, L acquired 150,000 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was bought at an average cost of $1.45 per share, with a total value of $217,500.00. Following the completion of the purchase, the director directly owned 72,100,000 shares in the company, valued at $104,545,000. The trade was a 0.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 11,225,000 shares of company stock valued at $14,408,250 in the last ninety days. Insiders own 23.16% of the company’s stock.

Standard BioTools Stock Down 1.3%

Shares of NASDAQ LAB opened at $1.56 on Friday. Standard BioTools Inc. has a twelve month low of $0.92 and a twelve month high of $1.89. The firm has a market cap of $599.93 million, a PE ratio of -4.59 and a beta of 1.26. The business has a fifty day simple moving average of $1.41 and a two-hundred day simple moving average of $1.34.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. TD Cowen reduced their price target on Standard BioTools from $1.55 to $1.35 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Zacks Research raised Standard BioTools to a “hold” rating in a research report on Thursday, December 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Standard BioTools in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded Standard BioTools from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Standard BioTools has a consensus rating of “Reduce” and an average price target 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.