Singular Genomics Systems, Inc. (NASDAQ:OMIC – Get Rating)'s share price rose 2% during trading on Tuesday . The company traded as high as $2.12 and last traded at $2.05. Approximately 73,542 shares were traded during trading, a decline of 47% from the average daily volume of 138,934 shares. The stock had previously closed at $2.01.
Analysts Set New Price Targets
Separately, The Goldman Sachs Group decreased their target price on Singular Genomics Systems from $3.50 to $3.00 and set a "neutral" rating for the company in a report on Tuesday, November 8th.
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Singular Genomics Systems Stock Performance
The firm has a 50-day moving average of $2.15 and a two-hundred day moving average of $2.89. The company has a quick ratio of 19.00, a current ratio of 20.18 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $146.36 million, a PE ratio of -1.64 and a beta of 0.84.
Singular Genomics Systems (NASDAQ:OMIC – Get Rating) last announced its quarterly earnings results on Monday, November 7th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.04. Research analysts anticipate that Singular Genomics Systems, Inc. will post -1.37 EPS for the current year.
Insider Activity at Singular Genomics Systems
In related news, insider Eli N. Glezer purchased 50,000 shares of Singular Genomics Systems stock in a transaction that occurred on Monday, December 12th. The stock was bought at an average cost of $2.00 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the insider now owns 4,185,000 shares in the company, valued at $8,370,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 22.60% of the stock is owned by company insiders.
Institutional Trading of Singular Genomics Systems
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its position in shares of Singular Genomics Systems by 12.5% in the third quarter. Bank of New York Mellon Corp now owns 149,558 shares of the company's stock valued at $374,000 after buying an additional 16,636 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Singular Genomics Systems in the third quarter valued at approximately $26,000. Balyasny Asset Management LLC purchased a new stake in shares of Singular Genomics Systems in the third quarter valued at approximately $26,000. State Street Corp increased its position in shares of Singular Genomics Systems by 9.1% in the third quarter. State Street Corp now owns 811,015 shares of the company's stock valued at $2,028,000 after buying an additional 67,455 shares in the last quarter. Finally, Platinum Investment Management Ltd. increased its position in shares of Singular Genomics Systems by 105.2% in the third quarter. Platinum Investment Management Ltd. now owns 881,068 shares of the company's stock valued at $2,203,000 after buying an additional 451,732 shares in the last quarter. 56.33% of the stock is currently owned by hedge funds and other institutional investors.
About Singular Genomics Systems
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Singular Genomics Systems, Inc, a life science technology company, develops next generation sequencing and multiomics technology to build products for researchers and clinicians to advance science and medicine. The company manufactures G4 Instrument, a benchtop next generation sequencer to produce genetic sequencing results, as well as associated menu of consumable kits.
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