Singular Genomics Systems (NASDAQ:OMIC) Shares Gap Down to $11.10

Singular Genomics Systems, Inc. (NASDAQ:OMIC)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $11.10, but opened at $9.99. Singular Genomics Systems shares last traded at $9.23, with a volume of 1,764 shares changing hands.

Analyst Upgrades and Downgrades

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

Singular Genomics Systems Stock Down 9.3 %

The company has a quick ratio of 9.54, a current ratio of 10.35 and a debt-to-equity ratio of 0.05. The company’s fifty day simple moving average is $11.18 and its 200 day simple moving average is $13.38.

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

Institutional Trading of Singular Genomics Systems

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

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.