Short Interest in Singular Genomics Systems, Inc. (NASDAQ:OMIC) Declines By 18.9%

Singular Genomics Systems, Inc. (NASDAQ:OMIC) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 71,200 shares, a decline of 18.9% from the October 15th total of 87,800 shares. Based on an average daily trading volume, of 105,000 shares, the short-interest ratio is presently 0.7 days. Currently, 4.8% of the company’s stock are sold short.

Hedge Funds Weigh In On Singular Genomics Systems

A hedge fund recently raised its stake in Singular Genomics Systems stock. Geode Capital Management LLC lifted its position in Singular Genomics Systems, Inc. (NASDAQ:OMIC) by 7.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,962 shares of the company’s stock after acquiring an additional 1,193 shares during the period. Geode Capital Management LLC owned 0.72% of Singular Genomics Systems worth $282,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 65.80% of the company’s stock.

Singular Genomics Systems Stock Down 3.7 %

OMIC stock traded down $0.85 during trading on Friday, reaching $21.90. 29,920 shares of the company traded hands, compared to its average volume of 34,549. The business has a 50 day simple moving average of $15.64 and a 200 day simple moving average of $11.40. Singular Genomics Systems has a 12 month low of $5.34 and a 12 month high of $23.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 8.04 and a current ratio of 7.37. The company has a market capitalization of $55.01 million, a price-to-earnings ratio of -0.62 and a beta of 1.51.

Singular Genomics Systems (NASDAQ:OMIC) last announced its earnings results on Tuesday, November 12th. The company reported ($6.72) earnings per share for the quarter, topping the consensus estimate of ($8.05) by $1.33. Singular Genomics Systems had a negative return on equity of 57.87% and a negative net margin of 3,237.89%. The firm had revenue of $0.41 million for the quarter, compared to the consensus estimate of $0.74 million.

Singular Genomics Systems Company Profile

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.