Short Interest in Singular Genomics Systems, Inc. (NASDAQ:OMIC) Drops By 17.9%

Singular Genomics Systems, Inc. (NASDAQ:OMIC) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 11,500 shares, a drop of 17.9% from the August 15th total of 14,000 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average trading volume of 7,000 shares, the short-interest ratio is currently 1.6 days.

Analyst Upgrades and Downgrades

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

Institutional Trading of Singular Genomics Systems

An institutional investor recently raised its position in Singular Genomics Systems stock. Weil Company Inc. lifted its position in shares of Singular Genomics Systems, Inc. (NASDAQ:OMIC) by 16.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 138,202 shares of the company’s stock after acquiring an additional 20,000 shares during the period. Weil Company Inc. owned about 0.19% of Singular Genomics Systems worth $64,000 at the end of the most recent reporting period. Institutional investors own 65.80% of the company’s stock.

Singular Genomics Systems Trading Up 3.5 %

Shares of NASDAQ:OMIC opened at $12.81 on Tuesday. The company has a fifty day simple moving average of $7.45 and a 200 day simple moving average of $10.65. The company has a debt-to-equity ratio of 0.05, a quick ratio of 8.04 and a current ratio of 8.77. Singular Genomics Systems has a 12-month low of $5.34 and a 12-month high of $19.80.

Singular Genomics Systems (NASDAQ:OMIC) last released its earnings results on Tuesday, August 13th. The company reported ($8.57) earnings per share for the quarter, topping the consensus estimate of ($8.86) by $0.29. Singular Genomics Systems had a negative net margin of 3,375.72% and a negative return on equity of 54.66%. The company had revenue of $0.74 million during the quarter, compared to the consensus estimate of $0.40 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.