Singular Genomics Systems (NASDAQ:OMIC) Price Target Lowered to $11.00 at The Goldman Sachs Group

Singular Genomics Systems (NASDAQ:OMICGet Rating) had its price objective lowered by equities researchers at The Goldman Sachs Group from $17.00 to $11.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 109.13% from the company’s previous close.

A number of other research firms have also weighed in on OMIC. Zacks Investment Research lowered shares of Singular Genomics Systems from a “buy” rating to a “hold” rating in a research note on Friday, April 8th. Bank of America upgraded shares of Singular Genomics Systems from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Friday, January 7th. Finally, UBS Group cut their target price on Singular Genomics Systems from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, January 6th. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $18.75.

Singular Genomics Systems stock opened at $5.26 on Wednesday. Singular Genomics Systems has a twelve month low of $5.21 and a twelve month high of $33.37. The company has a current ratio of 51.57, a quick ratio of 51.57 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average of $7.20.

Singular Genomics Systems (NASDAQ:OMICGet Rating) last released its earnings results on Wednesday, March 2nd. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.08. On average, analysts expect that Singular Genomics Systems will post -1.52 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in OMIC. Royal Bank of Canada bought a new stake in shares of Singular Genomics Systems during the 2nd quarter valued at about $30,000. Bank of America Corp DE bought a new stake in Singular Genomics Systems during the second quarter valued at approximately $48,000. Charles Schwab Investment Management Inc. increased its holdings in Singular Genomics Systems by 7.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,394 shares of the company’s stock valued at $363,000 after buying an additional 2,118 shares during the last quarter. Strs Ohio purchased a new stake in Singular Genomics Systems during the third quarter valued at approximately $30,000. Finally, Victory Capital Management Inc. raised its position in Singular Genomics Systems by 1.6% in the third quarter. Victory Capital Management Inc. now owns 200,334 shares of the company’s stock worth $2,242,000 after acquiring an additional 3,192 shares during the period. 44.22% of the stock is currently owned by institutional investors and hedge funds.

Singular Genomics Systems Company Profile (Get Rating)

Singular Genomics Systems, Inc, a life science technology company, develops next generation sequencing and multiomics technology to build products for researchers and clinicians to advance science and medicine. The company manufactures G4 Instrument, a benchtop next generation sequencer to produce genetic sequencing results, as well as associated menu of consumable kits.

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Analyst Recommendations for Singular Genomics Systems (NASDAQ:OMIC)

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