Synlogic (NASDAQ:SYBX) Stock Crosses Below 50 Day Moving Average – Time to Sell?

Synlogic, Inc. (NASDAQ:SYBX)’s stock price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $0.64 and traded as low as $0.5961. Synlogic shares last traded at $0.6699, with a volume of 16,653 shares trading hands.

Synlogic Stock Up 1.5%

The firm has a market cap of $7.84 million, a price-to-earnings ratio of -2.58 and a beta of 0.52. The firm has a 50 day moving average of $0.64 and a 200 day moving average of $0.87.

Institutional Trading of Synlogic

Several large investors have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its position in shares of Synlogic by 116.7% during the 4th quarter. Renaissance Technologies LLC now owns 85,627 shares of the biotechnology company’s stock valued at $96,000 after acquiring an additional 46,117 shares during the period. Citadel Advisors LLC acquired a new stake in Synlogic in the third quarter worth $49,000. Finally, DRW Securities LLC bought a new stake in Synlogic in the fourth quarter valued at $27,000. Institutional investors and hedge funds own 63.40% of the company’s stock.

About Synlogic

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.