Zacks Investment Research Lowers Singular Genomics Systems (NASDAQ:OMIC) to Hold

Singular Genomics Systems (NASDAQ:OMIC – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Singular Genomics Systems Inc. is a life science technology company. It focused on delivering genomic technologies for the advancement of science and medicine. Singular Genomics Systems Inc. is based in LA JOLLA, Calif. “

Separately, The Goldman Sachs Group cut their price target on Singular Genomics Systems from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, April 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Singular Genomics Systems currently has a consensus rating of “Buy” and an average price target of $18.10.

Shares of Singular Genomics Systems stock opened at $3.04 on Thursday. The firm has a market cap of $214.58 million and a price-to-earnings ratio of -1.51. The stock’s 50-day moving average is $5.15 and its 200-day moving average is $8.51. Singular Genomics Systems has a one year low of $3.00 and a one year high of $33.37. The company has a debt-to-equity ratio of 0.03, a current ratio of 35.87 and a quick ratio of 35.18.

Singular Genomics Systems (NASDAQ:OMIC – Get Rating) last issued its quarterly earnings results on Wednesday, March 2nd. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.08. On average, equities analysts expect that Singular Genomics Systems will post -1.47 EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC acquired a new stake in shares of Singular Genomics Systems in the fourth quarter valued at about $57,000. Geode Capital Management LLC increased its position in shares of Singular Genomics Systems by 257.2% in the third quarter. Geode Capital Management LLC now owns 136,281 shares of the company’s stock valued at $1,524,000 after acquiring an additional 98,132 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Singular Genomics Systems by 18.1% in the third quarter. UBS Asset Management Americas Inc. now owns 609,847 shares of the company’s stock valued at $6,824,000 after acquiring an additional 93,589 shares during the last quarter. New York State Common Retirement Fund increased its position in Singular Genomics Systems by 25.8% during the third quarter. New York State Common Retirement Fund now owns 27,208 shares of the company’s stock worth $304,000 after buying an additional 5,575 shares during the last quarter. Finally, Millennium Management LLC increased its position in Singular Genomics Systems by 114.8% during the third quarter. Millennium Management LLC now owns 454,193 shares of the company’s stock worth $5,082,000 after buying an additional 242,771 shares during the last quarter. 59.24% 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.

Featured Stories