Singular Genomics Systems, Inc. (NASDAQ:OMIC) Sees Large Decline in Short Interest

Singular Genomics Systems, Inc. (NASDAQ:OMIC) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totalling 12,400 shares, a drop of 17.9% from the June 30th total of 15,100 shares. Based on an average daily trading volume, of 5,600 shares, the days-to-cover ratio is currently 2.2 days. Currently, 0.9% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group decreased their target price on Singular Genomics Systems from $22.50 to $6.50 and set a “neutral” rating for the company in a research note on Tuesday, July 9th.

Singular Genomics Systems Stock Down 7.0 %

Singular Genomics Systems stock traded down $0.59 during mid-day trading on Friday, hitting $7.80. The company’s stock had a trading volume of 11,494 shares, compared to its average volume of 4,288. The firm’s 50 day moving average is $9.54 and its 200 day moving average is $12.69. The company has a market cap of $19.42 million, a PE ratio of -0.20 and a beta of 1.35. The company has a debt-to-equity ratio of 0.05, a current ratio of 10.35 and a quick ratio of 9.54. Singular Genomics Systems has a 52-week low of $7.43 and a 52-week high of $27.60.

Singular Genomics Systems (NASDAQ:OMIC) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($10.20) earnings per share (EPS) for the quarter. The business had revenue of $0.44 million during the quarter, compared to analysts’ expectations 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 Investors Weigh In On Singular Genomics Systems

An institutional investor recently raised its position in Singular Genomics Systems stock. Weil Company Inc. raised its position in shares of Singular Genomics Systems, Inc. (NASDAQ:OMIC) by 16.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,202 shares of the company’s stock after purchasing an additional 20,000 shares during the period. Weil Company Inc. owned 0.19% of Singular Genomics Systems worth $64,000 as of its most recent SEC filing. Institutional investors own 65.80% of the company’s stock.

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.