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

Synlogic, Inc. (NASDAQ:SYBX)’s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $1.69 and traded as low as $1.6401. Synlogic shares last traded at $1.65, with a volume of 4,977 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Synlogic in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Synlogic Stock Down 11.5%

The firm’s 50 day simple moving average is $1.68 and its two-hundred day simple moving average is $1.47. The stock has a market cap of $17.08 million, a P/E ratio of -18.25 and a beta of 0.55.

Synlogic (NASDAQ:SYBX) last announced its quarterly earnings data on Thursday, November 13th. The biotechnology company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.08). As a group, equities analysts predict that Synlogic, Inc. will post -2.71 EPS for the current year.

Hedge Funds Weigh In On Synlogic

An institutional investor recently bought a new position in Synlogic stock. Citadel Advisors LLC bought a new stake in shares of Synlogic, Inc. (NASDAQ:SYBX) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 29,011 shares of the biotechnology company’s stock, valued at approximately $49,000. Citadel Advisors LLC owned 0.25% of Synlogic as of its most recent SEC filing. Hedge funds and other institutional investors own 63.40% of the company’s stock.

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.