The Goldman Sachs Group Trims Singular Genomics Systems (NASDAQ:OMIC) Target Price to $6.50

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

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

Singular Genomics Systems Stock Performance

NASDAQ OMIC opened at $8.31 on Tuesday. Singular Genomics Systems has a 1 year low of $7.50 and a 1 year high of $31.50. The business’s fifty day moving average is $10.46 and its two-hundred day moving average is $13.10. The company has a quick ratio of 9.54, a current ratio of 10.35 and a debt-to-equity ratio of 0.05.

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

Institutional Trading of Singular Genomics Systems

An institutional investor recently raised its position in Singular Genomics Systems stock. Weil Company Inc. raised its position in shares of Singular Genomics Systems, Inc. (NASDAQ:OMIC) by 16.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 138,202 shares of the company’s stock after purchasing an additional 20,000 shares during the quarter. Weil Company Inc. owned 0.19% of Singular Genomics Systems worth $64,000 at the end of the most recent quarter. Institutional investors own 65.80% of the company’s stock.

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.