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

Singular Genomics Systems, Inc. (NASDAQ:OMIC) was the target of a large 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. Based on an average trading volume of 7,000 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.8% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group decreased their price objective 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 Trading Up 119.1 %

NASDAQ OMIC opened at $12.38 on Monday. The firm has a market cap of $30.54 million, a PE ratio of -0.31 and a beta of 1.34. Singular Genomics Systems has a 52 week low of $5.34 and a 52 week high of $19.80. The company has a quick ratio of 8.04, a current ratio of 8.77 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average price of $7.34 and a 200 day moving average price of $10.68.

Singular Genomics Systems (NASDAQ:OMIC) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($8.57) EPS for the quarter, beating the consensus estimate of ($8.86) by $0.29. Singular Genomics Systems had a negative return on equity of 54.66% and a negative net margin of 3,375.72%. The firm had revenue of $0.74 million during the quarter, compared to analyst estimates of $0.40 million.

Institutional Investors Weigh In On Singular Genomics Systems

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

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.