The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Standard BioTools Inc shares valued at $3,669 were purchased by Casdin Partners Master Fund, L on Mar 05 ’24. At $2.62 per share, Casdin Partners Master Fund, L acquired 1,403 shares. The insider’s holdings grew to 11,497,928 shares worth approximately $32.65 million following the completion of this transaction.
Also, Casdin Partners Master Fund, L purchased 250,000 shares, netting a total of over 642,500 in proceeds. Following the buying of shares at $2.57 each, the insider now holds 11,496,525 shares.
Before that, Casdin Eli had added 800,000 shares to its account. In a trade valued at $1,835,920, the Director bought Standard BioTools Inc shares for $2.29 each. Upon closing the transaction, the insider’s holdings increased to 800,000 shares, worth approximately $3.41 million.
As published in their initiating research note from Jefferies on April 04, 2024, Standard BioTools Inc [LAB] has been a Buy and the price target has been revised to $3.25. Analysts at KeyBanc Capital Markets started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid July.
Analyzing LAB Stock Performance
During the last five days, there has been a surge of approximately 6.77%. Over the course of the year, Standard BioTools Inc shares have jumped approximately 28.51%. Shares of the company reached a 52-week high of $3.04 on 04/09/24 and a 52-week low of $1.74 on 01/05/24. A 50-day SMA is recorded $2.55, while a 200-day SMA reached $2.39. Nevertheless, trading volume fell to 3.01 million shares from 2.66 million shares the previous day.
Support And Resistance Levels for Standard BioTools Inc (LAB)
According to the 24-hour chart, there is a support level at 2.78, which, if violated, would cause prices to drop to 2.73. In the upper region, resistance lies at 2.91. The next price resistance is at 2.99. RSI (Relative Strength Index) is 61.56 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.15, which suggests the price will decrease in the coming days. Percent R is at 44.44%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Standard BioTools Inc subject to short interest?
Stocks of Standard BioTools Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 1.2 million shares to 9.26 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 8.06 million shares. A jump of 12.96% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.91 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.91.
