Sumitomo Mitsui Trust Group Inc. Sells 1,063,708 Shares of Standard BioTools Inc. (NASDAQ:LAB)

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Standard BioTools Inc. (NASDAQ:LAB) by 10.0% in the 3rd quarter, HoldingsChannel reports. 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.’s holdings in Standard BioTools were worth $18,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Freestone Capital Holdings LLC purchased a new position in Standard BioTools in the first quarter valued at approximately $31,000. Xponance Inc. purchased a new position in shares of Standard BioTools during the 2nd quarter valued at $34,000. Nisa Investment Advisors LLC grew its stake in shares of Standard BioTools by 433.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 18,128 shares of the company’s stock worth $35,000 after acquiring an additional 14,732 shares during the period. Shell Asset Management Co. purchased a new stake in Standard BioTools in the 1st quarter worth about $39,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Standard BioTools in the 2nd quarter valued at about $39,000. 53.74% of the stock is currently owned by institutional investors.

Insider Activity at Standard BioTools

In other news, Director Casdin Partners Master Fund, L acquired 500,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was bought at an average cost of $1.90 per share, for a total transaction of $950,000.00. Following the completion of the transaction, the director now owns 53,025,821 shares of the company’s stock, valued at $100,749,059.90. The trade was a 0.95 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have purchased 942,100 shares of company stock worth $1,894,673. 53.10% of the stock is owned by company insiders.

Standard BioTools Price Performance

NASDAQ:LAB opened at $1.58 on Monday. Standard BioTools Inc. has a 1 year low of $1.21 and a 1 year high of $3.04. The stock’s fifty day moving average price is $1.92 and its two-hundred day moving average price is $2.06. The company has a market cap of $588.17 million, a P/E ratio of -2.23 and a beta of 1.57.

Analyst Ratings Changes

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

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.