Singular Genomics Systems (NASDAQ:OMIC) Stock Price Down 0.7% – Here’s What Happened

Singular Genomics Systems, Inc. (NASDAQ:OMIC) shares fell 0.7% on Monday . The stock traded as low as $14.76 and last traded at $15.10. 60,695 shares traded hands during trading, an increase of 76% from the average session volume of 34,499 shares. The stock had previously closed at $15.20.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group decreased their target price 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 Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 8.77 and a quick ratio of 8.04. The stock has a market capitalization of $33.10 million, a price-to-earnings ratio of -0.37 and a beta of 1.49. The company has a 50-day simple moving average of $11.32 and a two-hundred day simple moving average of $10.59.

Singular Genomics Systems (NASDAQ:OMIC) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($8.57) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $0.74 million for the quarter, compared to analysts’ expectations of $0.40 million.

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.