Singular Genomics Systems (NASDAQ:OMIC) Trading Up 0.7% – Here’s What Happened

Singular Genomics Systems, Inc. (NASDAQ:OMIC)’s share price shot up 0.7% during mid-day trading on Tuesday . The stock traded as high as $19.90 and last traded at $20.01. 3,306 shares were traded during trading, a decline of 67% from the average session volume of 10,162 shares. The stock had previously closed at $19.86.

Singular Genomics Systems Price Performance

The company has a 50-day moving average of $19.98 and a 200-day moving average of $15.37. The stock has a market capitalization of $50.75 million, a price-to-earnings ratio of -0.57 and a beta of 1.83. The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.67 and a current ratio of 7.37.

Singular Genomics Systems (NASDAQ:OMIC) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($6.72) EPS for the quarter, beating analysts’ consensus estimates of ($8.05) by $1.33. Singular Genomics Systems had a negative return on equity of 57.87% and a negative net margin of 3,237.89%. The business had revenue of $0.41 million for the quarter, compared to analyst estimates of $0.74 million.

Hedge Funds Weigh In On Singular Genomics Systems

An institutional investor recently raised its position in Singular Genomics Systems stock. Geode Capital Management LLC grew its stake in shares of Singular Genomics Systems, Inc. (NASDAQ:OMIC) by 7.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,962 shares of the company’s stock after acquiring an additional 1,193 shares during the quarter. Geode Capital Management LLC owned about 0.72% of Singular Genomics Systems worth $282,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 65.80% of the company’s stock.

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.