Singular Genomics Systems, Inc. (NASDAQ:OMIC) Short Interest Down 18.9% in October

Singular Genomics Systems, Inc. (NASDAQ:OMIC) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 71,200 shares, a decline of 18.9% from the October 15th total of 87,800 shares. Based on an average trading 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 Performance

OMIC stock traded down $0.85 during midday trading on Friday, hitting $21.90. 29,920 shares of the stock traded hands, compared to its average volume of 34,549. 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. The stock’s fifty day simple moving average is $15.64 and its 200-day simple moving average is $11.40. The firm has a market cap of $55.01 million, a P/E ratio of -0.62 and a beta of 1.51.

Singular Genomics Systems (NASDAQ:OMIC) last posted 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. Singular Genomics Systems had a negative net margin of 3,237.89% and a negative return on equity of 57.87%. The company had revenue of $0.41 million during the quarter, compared to analysts’ expectations of $0.74 million.

Institutional Trading of Singular Genomics Systems

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