Synthetic Biologics (NYSEAMERICAN:SYN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $0.50 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 31.58% from the stock’s current price.
According to Zacks, “Synthetic Biologics, Inc. is a biotechnology company focused on the development of synthetic DNA-based therapeutics and innovative disease-modifying medicines for serious illnesses. The Company is engaged in developing product candidates to treat pulmonary arterial hypertension, relapses in multiple sclerosis, cognitive dysfunction in multiple sclerosis, fibromyalgia and amyotrophic lateral sclerosis. Synthetic Biologics, Inc., formerly known as Adeona Pharmaceuticals, Inc., is headquartered in Ann Arbor, Michigan. “
Synthetic Biologics (SYN) traded up $0.01 during mid-day trading on Wednesday, reaching $0.38. The company had a trading volume of 149,966 shares, compared to its average volume of 902,745. Synthetic Biologics has a 12-month low of $0.28 and a 12-month high of $1.05. The stock has a market cap of $49.23, a price-to-earnings ratio of -2.11 and a beta of 1.30.
Institutional investors and hedge funds have recently modified their holdings of the business. Citadel Advisors LLC raised its holdings in Synthetic Biologics by 312.1% in the 4th quarter. Citadel Advisors LLC now owns 241,797 shares of the company’s stock valued at $122,000 after acquiring an additional 183,120 shares during the last quarter. Virtu Financial LLC raised its holdings in Synthetic Biologics by 256.1% in the 4th quarter. Virtu Financial LLC now owns 299,577 shares of the company’s stock valued at $152,000 after acquiring an additional 215,440 shares during the last quarter. Finally, 683 Capital Management LLC acquired a new position in Synthetic Biologics in the 4th quarter valued at $762,000.
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About Synthetic Biologics
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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