Singular Genomics Systems, Inc. (NASDAQ:OMIC) Sees Large Decline in Short Interest

Singular Genomics Systems, Inc. (NASDAQ:OMIC) saw a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 71,200 shares, a decrease of 18.9% from the October 15th total of 87,800 shares. Based on an average daily volume of 105,000 shares, the days-to-cover ratio is currently 0.7 days. Approximately 4.8% of the shares of the company are short sold.

Singular Genomics Systems Stock Down 3.7 %

NASDAQ:OMIC traded down $0.85 during mid-day trading on Friday, hitting $21.90. The company’s stock had a trading volume of 29,920 shares, compared to its average volume of 35,229. The business’s fifty day moving average is $15.64 and its two-hundred day moving average is $11.40. Singular Genomics Systems has a 1 year low of $5.34 and a 1 year high of $23.41. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.37 and a quick ratio of 8.04.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Singular Genomics Systems stock. Geode Capital Management LLC increased its stake in shares of Singular Genomics Systems, Inc. (NASDAQ:OMIC) by 7.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,962 shares of the company’s stock after purchasing an additional 1,193 shares during the period. Geode Capital Management LLC owned 0.72% of Singular Genomics Systems worth $282,000 as of its most recent filing with the Securities & Exchange Commission. 65.80% of the stock is currently owned by hedge funds and other 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.