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TD Cowen gives a Buy recommendation for Standard BioTools Inc (LAB)

Standard BioTools Inc’s recent filing unveils that its Director Casdin Partners Master Fund, L acquired Company’s shares for reported $0.26 million on May 23 ’24. In the deal valued at $2.60 per share,100,000 shares were bought. As a result of this transaction, Casdin Partners Master Fund, L now holds 46,075,821 shares worth roughly $106.9 million.

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Then, Casdin Partners Master Fund, L bought 150,000 shares, generating $387,735 in total proceeds. Upon buying the shares at $2.58, the Director now owns 45,975,821 shares.

Before that, Casdin Partners Master Fund, L bought 350,000 shares. Standard BioTools Inc shares valued at $895,930 were divested by the Director at a price of $2.56 per share. As a result of the transaction, Casdin Partners Master Fund, L now holds 45,825,821 shares, worth roughly $106.32 million.

TD Cowen initiated its Standard BioTools Inc [LAB] rating to a Buy in a research note published on April 16, 2024; the price target was $3.50. A number of analysts have revised their coverage, including Jefferies’s analysts, who began to cover the stock in early April with a ‘”a Buy”‘ rating. KeyBanc Capital Markets began covering LAB with “an Overweight” recommendation on July 12, 2023.

Price Performance Review of LAB

On Friday, Standard BioTools Inc [NASDAQ:LAB] saw its stock fall -7.94% to $2.32. Over the last five days, the stock has lost -6.45%. Standard BioTools Inc shares have risen nearly 4.98% since the year began. Nevertheless, the stocks have risen 1.75% over the past one year. While a 52-week high of $3.16 was reached on 04/09/24, a 52-week low of $1.57 was recorded on 01/05/24. SMA at 50 days reached $2.57, while 200 days put it at $2.42. A total of 2.33 million shares were traded, compared to the trading of 1.09 million shares in the previous session.

Levels Of Support And Resistance For LAB Stock

The 24-hour chart illustrates a support level at 2.25, which if violated will result in even more drops to 2.18. On the upside, there is a resistance level at 2.44. A further resistance level may holdings at 2.57. The Relative Strength Index (RSI) on the 14-day chart is 36.64, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.07, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.55%. Stochastics %K at 25.88% indicates the stock is a holding.

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