Singular Genomics Systems (NASDAQ:OMIC) Shares Up 0.7% - Time to Buy?

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

Singular Genomics Systems Trading Up 0.2 %

The business has a fifty day moving average price of $19.87 and a 200-day moving average price of $15.52. The company has a quick ratio of 6.67, a current ratio of 7.37 and a debt-to-equity ratio of 0.04. The company has a market cap of $50.62 million, a P/E ratio of -0.57 and a beta of 1.83.

Singular Genomics Systems (NASDAQ:OMIC - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($6.72) earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 57.87% and a negative net margin of 3,237.89%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Singular Genomics Systems stock. Geode Capital Management LLC boosted its stake in Singular Genomics Systems, Inc. (NASDAQ:OMIC - Free Report) by 7.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,962 shares of the company's stock after purchasing 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 reporting period. Institutional investors and hedge funds own 65.80% of the company's stock.

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.