Singular Genomics Systems (NASDAQ:OMIC) Shares Up 0.4% on Strong Earnings

Shares of Singular Genomics Systems, Inc. (NASDAQ:OMIC) shot up 0.4% during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $23.00 and last traded at $22.97. 6,086 shares traded hands during mid-day trading, a decline of 83% from the average session 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 net margin of 3,237.89% and a negative return on equity of 54.70%. The firm had revenue of $0.41 million for the quarter, compared to analyst estimates of $0.74 million.

Singular Genomics Systems Trading Up 1.0 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 8.77 and a quick ratio of 8.04. The business’s 50 day simple moving average is $15.32 and its 200 day simple moving average is $11.33. The stock has a market cap of $56.88 million, a P/E 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.