Singular Genomics Systems (NASDAQ:OMIC) Price Target Cut to $6.50 by Analysts at The Goldman Sachs Group

Singular Genomics Systems (NASDAQ:OMIC) had its target price decreased by The Goldman Sachs Group from $22.50 to $6.50 in a report released on Tuesday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Separately, UBS Group lifted their price target on shares of Singular Genomics Systems from $12.00 to $15.00 and gave the stock a neutral rating in a research report on Wednesday, March 20th.

Singular Genomics Systems Stock Up 9.1 %

Shares of OMIC stock opened at $8.31 on Tuesday. Singular Genomics Systems has a 52-week low of $7.50 and a 52-week high of $31.50. The company has a quick ratio of 9.54, a current ratio of 10.35 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average price is $10.46 and its two-hundred day moving average price is $13.10.

Singular Genomics Systems (NASDAQ:OMIC) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($10.20) earnings per share for the quarter. The firm had revenue of $0.44 million for the quarter, compared to the consensus estimate of $0.50 million. Singular Genomics Systems had a negative return on equity of 51.10% and a negative net margin of 3,863.90%.

Institutional Investors Weigh In On Singular Genomics Systems

An institutional investor recently raised its position in Singular Genomics Systems stock. Weil Company Inc. increased its stake in shares of Singular Genomics Systems, Inc. (NASDAQ:OMIC) by 16.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,202 shares of the company’s stock after acquiring an additional 20,000 shares during the period. Weil Company Inc. owned about 0.19% of Singular Genomics Systems worth $64,000 as of its most recent SEC filing. 65.80% of the stock is currently owned by institutional investors and hedge funds.

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.