Within its last year performance, OMIC fell by -79.02%, with highs and lows ranging from $6.03 to $1.07, whereas the simple moving average fell by -51.02% in the last 200 days.
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On August 17, 2022, UBS Downgraded Singular Genomics Systems Inc. (NASDAQ: OMIC) to Neutral. A report published by Goldman on August 10, 2022, Downgraded its rating to ‘Neutral’ for OMIC. BofA Securities also Downgraded OMIC shares as ‘Underperform’, setting a target price of $3 on the company’s shares in a report dated August 10, 2022. Cowen initiated its ‘Outperform’ rating for OMIC, as published in its report on October 15, 2021.
Analysis of Singular Genomics Systems Inc. (OMIC)
In order to gain a clear picture of Singular Genomics Systems Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -31.50% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 17.70, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 140.57K can be a very valuable indicator of volatility for OMIC stock. On a monthly basis, the volatility of the stock is set at 13.44%, whereas on a weekly basis, it is put at 8.92%, with a gain of 10.34% over the past seven days. Furthermore, long-term investors anticipate a median target price of $2.42, showing growth from the present price of $1.28, which can serve as yet another indication of whether OMIC is worth investing in or should be passed over.
How Do You Analyze Singular Genomics Systems Inc. Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 6.00%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 70.10% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in OMIC shares?
The recent increase in stakes in OMIC appears to be a result of several institutional investors and hedge funds increasing their positions. Deerfield Management Co. LP’s position in OMIC has decreased by -8.86% in the first quarter. The company now owns 6,450,871 shares of the stock, with a value of $13.87 million, following the sale of -627,148 additional shares during the last quarter. UBS Securities LLC made another increased to its shares in OMIC during the first quarter, upping its stake by 0.54%. During the last quarter, the company dropped down 25,025 additional shares for a total stake of worth $10.11 million, bringing number of shares owned by the company to 4,700,470.
During the first quarter, Perceptive Advisors LLC subtracted a -253,999 position in OMIC. BlackRock Fund Advisors purchased an additional 0.11 million shares in the last quarter, increasing its holdings by 3.79%, now holding 3.08 million shares worth $6.62 million. OMIC shares are owned by institutional investors to the tune of 70.10% at present.
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