Insider Buying: Singular Genomics Systems, Inc. (NASDAQ:OMIC) Insider Acquires 200,000 Shares of Stock

Singular Genomics Systems, Inc. (NASDAQ:OMIC) insider Eli N. Glezer purchased 200,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was bought at an average price of $0.43 per share, with a total value of $86,000.00. Following the purchase, the insider now owns 4,570,000 shares of the company’s stock, valued at approximately $1,965,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Singular Genomics Systems Stock Performance

Shares of OMIC traded down $0.03 during midday trading on Monday, hitting $0.41. 576,773 shares of the stock traded hands, compared to its average volume of 328,996. Singular Genomics Systems, Inc. has a 1-year low of $0.31 and a 1-year high of $3.00. The firm has a market capitalization of $29.75 million, a PE ratio of -0.32 and a beta of 0.98. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.15 and a current ratio of 13.64. The business’s 50 day moving average price is $0.39 and its two-hundred day moving average price is $0.65.

Hedge Funds Weigh In On Singular Genomics Systems

A number of institutional investors and hedge funds have recently bought and sold shares of OMIC. Alliancebernstein L.P. acquired a new position in shares of Singular Genomics Systems during the 4th quarter valued at $26,000. Balyasny Asset Management LLC acquired a new stake in shares of Singular Genomics Systems in the third quarter valued at $26,000. Millennium Management LLC bought a new position in Singular Genomics Systems during the fourth quarter valued at about $31,000. Cambridge Investment Research Advisors Inc. acquired a new position in Singular Genomics Systems during the first quarter worth about $32,000. Finally, Marino Stram & Associates LLC raised its position in Singular Genomics Systems by 300.0% in the second quarter. Marino Stram & Associates LLC now owns 40,000 shares of the company’s stock worth $33,000 after acquiring an additional 30,000 shares in the last quarter. Institutional investors own 55.75% of the company’s stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group reduced their price target on shares of Singular Genomics Systems from $1.15 to $1.00 and set a “neutral” rating for the company in a report on Thursday, August 10th.

About Singular Genomics Systems

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.