Synlogic (NASDAQ:SYBX) Stock Passes Above 50 Day Moving Average of $1.82

Synlogic, Inc. (NASDAQ:SYBX) shares passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $1.82 and traded as high as $1.89. Synlogic shares last traded at $1.87, with a volume of 54,373 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SYBX shares. Chardan Capital downgraded Synlogic from a “buy” rating to a “neutral” rating in a report on Friday, February 9th. Leerink Partnrs downgraded Synlogic from an “outperform” rating to a “market perform” rating in a report on Friday, February 9th. HC Wainwright upgraded Synlogic from a “sell” rating to a “neutral” rating in a report on Wednesday, March 20th. Finally, SVB Leerink reiterated a “market perform” rating on shares of Synlogic in a report on Friday, February 9th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Synlogic currently has an average rating of “Hold” and a consensus target price of $65.00.

Synlogic Stock Performance

The stock has a market capitalization of $21.79 million, a price-to-earnings ratio of -0.17 and a beta of 1.09. The business has a 50-day moving average of $1.82 and a 200-day moving average of $2.50.

Synlogic (NASDAQ:SYBX) last announced its earnings results on Tuesday, March 19th. The biotechnology company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.60). The firm had revenue of $2.77 million during the quarter, compared to analyst estimates of $2.71 million. Synlogic had a negative net margin of 1,699.23% and a negative return on equity of 109.34%. On average, research analysts predict that Synlogic, Inc. will post -2.09 earnings per share for the current fiscal year.

Institutional Trading of Synlogic

A number of large investors have recently made changes to their positions in SYBX. Two Sigma Securities LLC acquired a new stake in Synlogic during the 1st quarter worth approximately $27,000. WINTON GROUP Ltd acquired a new stake in Synlogic during the 3rd quarter worth approximately $35,000. Citadel Advisors LLC acquired a new stake in Synlogic during the 4th quarter worth approximately $42,000. Envestnet Asset Management Inc. lifted its position in Synlogic by 273.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 78,671 shares of the biotechnology company’s stock worth $60,000 after acquiring an additional 57,604 shares during the period. Finally, Millennium Management LLC lifted its position in Synlogic by 333.6% during the 4th quarter. Millennium Management LLC now owns 95,434 shares of the biotechnology company’s stock worth $73,000 after acquiring an additional 73,422 shares during the period. 63.40% of the stock is owned by institutional investors and hedge funds.

Synlogic Company Profile

Synlogic, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of synthetic biotics to treat metabolic diseases in the United States. Its pipeline include SYNB1618, an orally administered, non-systemically absorbed drug candidate to treat phenylketonuria; SYNB1934, an orally administered, non-systemically absorbed drug candidate, which is in Phase III clinical trial to treat phenylketonuria; SYNB1353, an orally administered, non-systemically absorbed drug candidate, which is in Phase I clinical to treat homocystinuria; SYNB8802, an orally administered, non-systemically absorbed drug candidate that is in Phase II clinical trial for the treatment of enteric hyperoxaluria; and SYNB2081 to lower uric acid for the potential treatment of gout.