Singular Genomics Systems, Inc. (NASDAQ:OMIC) Short Interest Down 17.6% in April

Singular Genomics Systems, Inc. (NASDAQ:OMIC) saw a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 603,300 shares, a drop of 17.6% from the March 31st total of 732,300 shares. Approximately 1.4% of the company’s shares are short sold. Based on an average daily volume of 113,500 shares, the days-to-cover ratio is currently 5.3 days.

Singular Genomics Systems Stock Performance

Singular Genomics Systems stock opened at $0.40 on Friday. The company’s 50 day simple moving average is $0.50 and its 200 day simple moving average is $0.45. Singular Genomics Systems has a fifty-two week low of $0.31 and a fifty-two week high of $1.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 10.51 and a quick ratio of 9.77.

Singular Genomics Systems (NASDAQ:OMIC) last released its quarterly earnings data on Monday, March 18th. The company reported ($0.34) earnings per share for the quarter. Singular Genomics Systems had a negative return on equity of 45.33% and a negative net margin of 3,257.30%. The firm had revenue of $1.08 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Singular Genomics Systems stock. Weil Company Inc. boosted its stake in shares of Singular Genomics Systems, Inc. (NASDAQ:OMIC) by 73.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 118,202 shares of the company’s stock after buying an additional 50,000 shares during the period. Weil Company Inc. owned approximately 0.16% of Singular Genomics Systems worth $45,000 as of its most recent filing with the SEC. Institutional investors own 65.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on OMIC shares. The Goldman Sachs Group reduced their target price on shares of Singular Genomics Systems from $0.95 to $0.85 and set a “neutral” rating on the stock in a research note on Monday, January 22nd. UBS Group raised their target price on shares of Singular Genomics Systems from $0.40 to $0.50 and gave the company a “neutral” rating in a research note on Wednesday, March 20th.

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.