Standard BioTools Inc. (NASDAQ:LAB) Short Interest Down 24.9% in November

Standard BioTools Inc. (NASDAQ:LAB) was the target of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 14,680,000 shares, a decrease of 24.9% from the October 31st total of 19,540,000 shares. Currently, 4.1% of the company’s stock are sold short. Based on an average trading volume of 1,860,000 shares, the days-to-cover ratio is currently 7.9 days.

Institutional Trading of Standard BioTools

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in Standard BioTools by 2.3% during the third quarter. Geode Capital Management LLC now owns 6,949,717 shares of the company’s stock worth $13,415,000 after buying an additional 154,848 shares during the period. Barclays PLC grew its position in shares of Standard BioTools by 13.2% during the third quarter. Barclays PLC now owns 3,228,360 shares of the company’s stock worth $6,231,000 after acquiring an additional 377,195 shares during the last quarter. XTX Topco Ltd increased its holdings in shares of Standard BioTools by 133.1% in the 3rd quarter. XTX Topco Ltd now owns 83,817 shares of the company’s stock valued at $162,000 after acquiring an additional 47,852 shares during the period. Wolverine Trading LLC purchased a new stake in Standard BioTools in the 3rd quarter valued at $27,000. Finally, State Street Corp boosted its stake in Standard BioTools by 26.7% during the 3rd quarter. State Street Corp now owns 5,495,136 shares of the company’s stock worth $10,606,000 after purchasing an additional 1,157,984 shares during the period. 53.74% of the stock is owned by hedge funds and other institutional investors.

Standard BioTools Stock Performance

NASDAQ LAB traded up $0.02 during trading hours on Friday, hitting $1.84. The company had a trading volume of 905,994 shares, compared to its average volume of 2,239,791. The business has a 50 day moving average of $1.85 and a 200-day moving average of $2.00. The company has a market cap of $684.96 million, a PE ratio of -2.59 and a beta of 1.57. Standard BioTools has a 1-year low of $1.21 and a 1-year high of $3.04.

Analyst Ratings Changes

Separately, TD Cowen cut their price target on Standard BioTools from $2.75 to $2.50 and set a “buy” rating on the stock in a report on Thursday, October 31st.

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.