Synlogic (NASDAQ:SYBX) Stock Price Crosses Below Fifty Day Moving Average – Here’s Why

Synlogic, Inc. (NASDAQ:SYBX) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $0.67 and traded as low as $0.6112. Synlogic shares last traded at $0.68, with a volume of 1,360 shares.

Synlogic Stock Down 0.4%

The company has a market cap of $7.95 million, a P/E ratio of -2.62 and a beta of 0.56. The business has a 50-day moving average price of $0.67 and a two-hundred day moving average price of $0.75.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SYBX. DRW Securities LLC acquired a new position in Synlogic in the 4th quarter valued at about $27,000. Citadel Advisors LLC acquired a new position in Synlogic in the third quarter valued at about $49,000. Finally, Renaissance Technologies LLC lifted its holdings 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 worth $96,000 after acquiring an additional 46,117 shares during the period. 63.40% of the stock is currently owned by institutional investors.

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.