Singular Genomics Systems (NASDAQ:OMIC) Price Target Cut to $0.75 by Analysts at The Goldman Sachs Group

Singular Genomics Systems (NASDAQ:OMIC) had its price target lowered by The Goldman Sachs Group from $0.85 to $0.75 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Separately, UBS Group increased their price target on shares of Singular Genomics Systems from $0.40 to $0.50 and gave the stock a neutral rating in a research note on Wednesday, March 20th.

Singular Genomics Systems Price Performance

OMIC stock opened at $0.38 on Wednesday. Singular Genomics Systems has a 1 year low of $0.31 and a 1 year high of $1.14. The company has a market cap of $28.24 million, a P/E ratio of -0.29 and a beta of 1.43. The firm has a 50-day moving average of $0.45 and a 200 day moving average of $0.46. The company has a debt-to-equity ratio of 0.05, a current ratio of 10.35 and a quick ratio of 9.77.

Singular Genomics Systems (NASDAQ:OMIC) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.34) earnings per share (EPS) for the quarter. Singular Genomics Systems had a negative return on equity of 51.10% and a negative net margin of 3,863.90%. The company had revenue of $0.44 million during the quarter, compared to the consensus estimate of $0.50 million.

Institutional Investors Weigh In On Singular Genomics Systems

An institutional investor recently bought a new position in Singular Genomics Systems stock. QVIDTVM Management LLC acquired a new position in Singular Genomics Systems, Inc. (NASDAQ:OMIC) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,188,377 shares of the company’s stock, valued at approximately $453,000. Singular Genomics Systems accounts for approximately 0.4% of QVIDTVM Management LLC’s investment portfolio, making the stock its 11th biggest holding. QVIDTVM Management LLC owned about 1.63% of Singular Genomics Systems at the end of the most recent quarter. 65.80% of the stock is 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.