Singular Genomics Systems, Inc. (NASDAQ:OMIC) Short Interest Update

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Singular Genomics Systems

An institutional investor recently raised its position in Singular Genomics Systems stock. Weil Company Inc. boosted its holdings in Singular Genomics Systems, Inc. (NASDAQ:OMIC) by 16.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 138,202 shares of the company’s stock after purchasing an additional 20,000 shares during the quarter. Weil Company Inc. owned approximately 0.19% of Singular Genomics Systems worth $64,000 as of its most recent filing with the Securities and Exchange Commission. 65.80% of the stock is owned by institutional investors and hedge funds.

Singular Genomics Systems Stock Performance

NASDAQ:OMIC traded down $0.02 during midday trading on Monday, reaching $7.78. The stock had a trading volume of 6,599 shares, compared to its average volume of 4,768. 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 stock has a market cap of $19.37 million, a P/E ratio of -0.20 and a beta of 1.35. The firm has a fifty day simple moving average of $9.46 and a two-hundred day simple moving average of $12.65. Singular Genomics Systems has a 12-month low of $7.21 and a 12-month high of $24.60.

Singular Genomics Systems (NASDAQ:OMIC) last posted 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 business had revenue of $0.44 million during the quarter, compared to analysts’ expectations of $0.50 million.

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.