Singular Genomics Systems (NASDAQ:OMIC) Issues Earnings Results

Singular Genomics Systems (NASDAQ:OMIC) released its quarterly earnings results on Tuesday. The company reported ($8.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($8.86) by $0.29, Zacks reports. Singular Genomics Systems had a negative net margin of 3,863.90% and a negative return on equity of 51.10%. The firm had revenue of $0.74 million during the quarter, compared to analyst estimates of $0.40 million.

Singular Genomics Systems Trading Up 1.1 %

OMIC stock traded up $0.08 during mid-day trading on Thursday, reaching $7.38. The company’s stock had a trading volume of 3,903 shares, compared to its average volume of 4,922. The company has a market cap of $18.21 million, a price-to-earnings ratio of -0.18 and a beta of 1.35. Singular Genomics Systems has a 12 month low of $6.78 and a 12 month high of $19.80. The business’s 50 day moving average price is $8.59 and its 200 day moving average price is $12.21. The company has a current ratio of 10.35, a quick ratio of 9.54 and a debt-to-equity ratio of 0.05.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group lowered their target price on shares of 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 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.