Synlogic, Inc. (NASDAQ:SYBX – Get Free Report)’s share price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $0.66 and traded as low as $0.6001. Synlogic shares last traded at $0.70, with a volume of 10,121 shares traded.
Synlogic Stock Down 5.4%
The stock has a market capitalization of $8.19 million, a price-to-earnings ratio of -2.69 and a beta of 0.56. The company’s 50-day simple moving average is $0.66 and its 200 day simple moving average is $0.78.
Hedge Funds Weigh In On Synlogic
Several hedge funds have recently bought and sold shares of SYBX. Renaissance Technologies LLC grew its position in shares of Synlogic by 116.7% in the fourth quarter. Renaissance Technologies LLC now owns 85,627 shares of the biotechnology company’s stock valued at $96,000 after purchasing an additional 46,117 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Synlogic in the third quarter valued at about $49,000. Finally, DRW Securities LLC acquired a new stake in shares of Synlogic in the fourth quarter valued at about $27,000. 63.40% of the stock is owned by institutional investors and hedge funds.
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.
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