Singular Genomics Systems (NASDAQ:OMIC) Hits New 1-Year Low at $7.53

Singular Genomics Systems, Inc. (NASDAQ:OMIC) hit a new 52-week low during trading on Wednesday . The stock traded as low as $7.53 and last traded at $8.48, with a volume of 6934 shares traded. The stock had previously closed at $8.70.

Wall Street Analysts Forecast Growth

OMIC has been the subject of several recent analyst reports. The Goldman Sachs Group cut their price objective on Singular Genomics Systems from $25.50 to $22.50 and set a “neutral” rating for the company in a report on Wednesday, May 15th. UBS Group boosted their price objective on Singular Genomics Systems from $12.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th.

Singular Genomics Systems Stock Down 16.0 %

The stock has a 50-day moving average of $11.25 and a two-hundred day moving average of $13.41. The company has a market cap of $690.52 million, a P/E ratio of -7.06 and a beta of 1.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 9.54 and a current ratio of 10.35.

Singular Genomics Systems (NASDAQ:OMIC) last released its earnings results on Tuesday, May 14th. The company reported ($10.20) earnings per share for the quarter. The firm had revenue of $0.44 million during the quarter, compared to the consensus estimate of $0.50 million. Singular Genomics Systems had a negative return on equity of 51.10% and a negative net margin of 3,863.90%.

Institutional Trading of Singular Genomics Systems

A hedge fund recently raised its stake in Singular Genomics Systems stock. Weil Company Inc. grew its stake in shares of Singular Genomics Systems, Inc. (NASDAQ:OMIC) by 16.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 138,202 shares of the company’s stock after purchasing an additional 20,000 shares during the quarter. Weil Company Inc. owned approximately 0.19% of Singular Genomics Systems worth $64,000 at the end of the most recent quarter. 65.80% of the stock is currently owned by institutional investors.

About Singular Genomics Systems

Singular Genomics Systems, Inc, a life science technology company, develops next generation sequencing and multiomics technology for researchers and clinicians to advance science and medicine. The company is involved in the developing of G4, consisting of G4 instrument and associated consumables for various applications, such as max read kits for single cell sequencing, rare variant detection with high-definition sequencing, gene fusion detection with ring-seq, and extended range sequencing; and PX instrument and associated consumables for applications comprising single cell gene expression and proteomics, in situ RNA sequencing, and spatial RNA and proteomics applications for tissue.