Synthetic Biologics Inc (SYN) Sees Significant Decrease in Short Interest
Synthetic Biologics Inc (NYSE:SYN) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 9,312,299 shares, a decline of 7.4% from the September 15th total of 10,051,188 shares. Based on an average daily trading volume, of 350,088 shares, the short-interest ratio is presently 26.6 days. Currently, 12.5% of the shares of the company are sold short.
Several hedge funds and other institutional investors have recently made changes to their positions in SYN. KCG Holdings Inc. bought a new position in shares of Synthetic Biologics during the second quarter worth approximately $106,000. Rhumbline Advisers bought a new position in shares of Synthetic Biologics during the second quarter worth approximately $126,000. Schwab Charles Investment Management Inc. bought a new position in shares of Synthetic Biologics during the second quarter worth approximately $213,000. Teachers Advisors Inc. bought a new position in shares of Synthetic Biologics during the second quarter worth approximately $216,000. Finally, Vanguard Group Inc. raised its position in shares of Synthetic Biologics by 10.5% in the second quarter. Vanguard Group Inc. now owns 2,761,194 shares of the company’s stock worth $4,970,000 after buying an additional 262,551 shares in the last quarter.
Shares of Synthetic Biologics (NYSE:SYN) opened at 1.67 on Wednesday. Synthetic Biologics has a one year low of $0.93 and a one year high of $3.09. The company’s market cap is $152.42 million. The company’s 50-day moving average price is $1.69 and its 200 day moving average price is $1.93.
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Synthetic Biologics (NYSE:SYN) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.02. Equities analysts forecast that Synthetic Biologics will post ($0.39) EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on SYN shares. Griffin Securities set a $5.80 price target on Synthetic Biologics and gave the company a “buy” rating in a report on Wednesday, August 31st. BTIG Research started coverage on Synthetic Biologics in a report on Thursday, August 25th. They set a “buy” rating and a $5.00 price target on the stock. Zacks Investment Research raised Synthetic Biologics from a “hold” rating to a “buy” rating and set a $2.00 price target on the stock in a report on Tuesday, August 9th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Synthetic Biologics in a report on Friday, August 5th.
Synthetic Biologics Company Profile
Synthetic Biologics, Inc is a clinical-stage company. The Company is engaged in developing therapeutics to protect the gut microbiome while targeting pathogen-specific diseases. The Company’s lead product candidates in Phase II development are SYN-010, which is intended to reduce the impact of methane-producing organisms in the gut microbiome to treat an underlying cause of irritable bowel syndrome with constipation (IBS-C), and SYN-004, which is designed to protect the gut microbiome (gastrointestinal (GI) microflora) from the effects of certain commonly used intravenous (IV) antibiotics for the prevention of C.
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