Singular Genomics Systems (NASDAQ:OMIC) Stock Price Up 0.4% on Earnings Beat

Shares of Singular Genomics Systems, Inc. (NASDAQ:OMIC) rose 0.4% during mid-day trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $23.00 and last traded at $22.97. Approximately 6,086 shares changed hands during trading, a decline of 83% from the average daily volume of 34,845 shares. The stock had previously closed at $22.88.

The company reported ($6.72) earnings per share for the quarter, topping the consensus estimate of ($8.05) by $1.33. Singular Genomics Systems had a negative return on equity of 54.70% and a negative net margin of 3,237.89%. The firm had revenue of $0.41 million during the quarter, compared to analyst estimates of $0.74 million.

Singular Genomics Systems Stock Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 8.04 and a current ratio of 8.77. The stock’s 50-day simple moving average is $15.32 and its two-hundred day simple moving average is $11.33. The stock has a market cap of $56.88 million, a price-to-earnings ratio of -0.65 and a beta of 1.51.

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.