Monashee Investment Management LLC Takes Position in Singular Genomics Systems, Inc. (NASDAQ:OMIC)

Monashee Investment Management LLC purchased a new stake in Singular Genomics Systems, Inc. (NASDAQ:OMIC) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 40,000 shares of the company’s stock, valued at approximately $1,099,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in shares of Singular Genomics Systems in the 2nd quarter valued at about $95,000. Legato Capital Management LLC acquired a new position in shares of Singular Genomics Systems in the 2nd quarter valued at about $327,000. Bank of New York Mellon Corp acquired a new position in Singular Genomics Systems during the 2nd quarter valued at about $801,000. BlackRock Inc. acquired a new position in Singular Genomics Systems during the 2nd quarter valued at about $1,810,000. Finally, Victory Capital Management Inc. acquired a new position in Singular Genomics Systems during the 2nd quarter valued at about $5,417,000. 36.87% of the stock is owned by institutional investors and hedge funds.

OMIC stock opened at $11.81 on Friday. Singular Genomics Systems, Inc. has a 52 week low of $11.70 and a 52 week high of $33.37. The stock’s 50-day moving average is $16.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 46.48 and a current ratio of 46.48.

Singular Genomics Systems (NASDAQ:OMIC) last released its quarterly earnings results on Tuesday, August 3rd. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.22). On average, research analysts expect that Singular Genomics Systems, Inc. will post -0.92 EPS for the current year.

OMIC has been the subject of a number of analyst reports. Cowen initiated coverage on shares of Singular Genomics Systems in a research note on Monday, June 21st. They set an “outperform” rating for the company. JPMorgan Chase & Co. initiated coverage on shares of Singular Genomics Systems in a research note on Monday, June 21st. They set an “overweight” rating and a $30.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of Singular Genomics Systems in a research note on Monday, June 21st. They set a “buy” rating and a $35.00 target price for the company. Finally, Bank of America assumed coverage on shares of Singular Genomics Systems in a research report on Monday, June 21st. They set a “neutral” rating and a $26.00 price target on the stock.

About Singular Genomics Systems

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. It manufactures G4 Instrument, a benchtop next generation sequencer to produce genetic sequencing results, as well as associated menu of consumable kits; and offers PX Integrated Solution that combines single cell analysis, spatial analysis, genomics and proteomics in one integrated instrument providing a versatile multiomics solution.

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Institutional Ownership by Quarter for Singular Genomics Systems (NASDAQ:OMIC)

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