Singular Genomics Systems Founder Acquires 4.6% More Stock
Even if it's not a huge purchase, we think it was good to see that Eli Glezer, the Founder of Singular Genomics Systems, Inc. (NASDAQ:OMIC) recently shelled out US$86k to buy stock, at US$0.43 per share. Although the purchase is not a big one, increasing their shareholding by only 4.6%, it can be interpreted as a good sign.
See our latest analysis for Singular Genomics Systems
The Last 12 Months Of Insider Transactions At Singular Genomics Systems
Notably, that recent purchase by Founder Eli Glezer was not the only time they bought Singular Genomics Systems shares this year. They previously made an even bigger purchase of US$139k worth of shares at a price of US$0.82 per share. That means that even when the share price was higher than US$0.41 (the recent price), an insider wanted to purchase shares. Their view may have changed since then, but at least it shows they felt optimistic at the time. In our view, the price an insider pays for shares is very important. Generally speaking, it catches our eye when an insider has purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price. The only individual insider to buy over the last year was Eli Glezer.
Eli Glezer purchased 420.00k shares over the year. The average price per share was US$0.77. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
Singular Genomics Systems is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Insider Ownership Of Singular Genomics Systems
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Our data indicates that Singular Genomics Systems insiders own about US$4.7m worth of shares (which is 15% of the company). We do generally prefer see higher levels of insider ownership.
So What Do The Singular Genomics Systems Insider Transactions Indicate?
It's certainly positive to see the recent insider purchase. We also take confidence from the longer term picture of insider transactions. But we don't feel the same about the fact the company is making losses. On this analysis the only slight negative we see is the fairly low (overall) insider ownership; their transactions suggest that they are quite positive on Singular Genomics Systems stock. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. Be aware that Singular Genomics Systems is showing 5 warning signs in our investment analysis, and 1 of those is significant...
Of course Singular Genomics Systems may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
