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

Shares of Singular Genomics Systems, Inc. (NASDAQ:OMIC) gapped down before the market opened 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 traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OMIC shares. UBS Group boosted their target price on shares of Singular Genomics Systems from $12.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. The Goldman Sachs Group lowered their target price on shares of Singular Genomics Systems from $25.50 to $22.50 and set a “neutral” rating for the company in a research note on Wednesday, May 15th.

Singular Genomics Systems Stock Down 16.8 %

The firm’s 50-day moving average price is $11.30 and its two-hundred day moving average price is $13.43. The company has a current ratio of 10.35, a quick ratio of 9.54 and a debt-to-equity ratio of 0.05.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Singular Genomics Systems stock. Weil Company Inc. lifted its holdings in shares of Singular Genomics Systems, Inc. (NASDAQ:OMIC) by 16.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 0.19% of Singular Genomics Systems worth $64,000 at the end of the most recent reporting period. Hedge funds and other 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.