Sumitomo Mitsui Trust Group Inc. Has $18.49 Million Holdings in Standard BioTools Inc. (NASDAQ:LAB)

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of Standard BioTools Inc. (NASDAQ:LAB) by 10.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,578,563 shares of the company’s stock after selling 1,063,708 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 2.58% of Standard BioTools worth $18,487,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Arizona State Retirement System raised its stake in Standard BioTools by 16.6% during the 2nd quarter. Arizona State Retirement System now owns 69,596 shares of the company’s stock worth $123,000 after buying an additional 9,933 shares during the period. XTX Topco Ltd increased its holdings in shares of Standard BioTools by 38.2% during the second quarter. XTX Topco Ltd now owns 35,965 shares of the company’s stock valued at $64,000 after acquiring an additional 9,947 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Standard BioTools by 27.3% during the second quarter. Victory Capital Management Inc. now owns 46,967 shares of the company’s stock worth $83,000 after purchasing an additional 10,067 shares during the period. Freestone Capital Holdings LLC bought a new position in shares of Standard BioTools in the 1st quarter worth $31,000. Finally, Shell Asset Management Co. bought a new stake in Standard BioTools during the 1st quarter valued at $39,000. Institutional investors own 53.74% of the company’s stock.

Standard BioTools Stock Performance

LAB stock opened at $1.58 on Monday. The business has a 50-day simple moving average of $1.92 and a two-hundred day simple moving average of $2.06. The company has a market capitalization of $588.17 million, a P/E ratio of -2.23 and a beta of 1.57. Standard BioTools Inc. has a 52-week low of $1.21 and a 52-week high of $3.04.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, Director Casdin Partners Master Fund, L bought 150,000 shares of the stock in a transaction dated Monday, August 26th. The stock was bought at an average price of $2.15 per share, for a total transaction of $322,500.00. Following the completion of the acquisition, the director now directly owns 53,775,821 shares in the company, valued at approximately $115,618,015.15. This trade represents a 0.28 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased 942,100 shares of company stock worth $1,894,673 over the last 90 days. 53.10% of the stock is currently owned by corporate insiders.

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.