Synlogic (NASDAQ:SYBX) Stock Price Crosses Below 50-Day Moving Average – What’s Next?

Synlogic, Inc. (NASDAQ:SYBX) passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $0.64 and traded as low as $0.60. Synlogic shares last traded at $0.69, with a volume of 6,170 shares.

Synlogic Price Performance

The firm’s 50 day moving average is $0.64 and its 200 day moving average is $0.83. The company has a market capitalization of $8.07 million, a PE ratio of -2.65 and a beta of 0.56.

Institutional Trading of Synlogic

Several large investors have recently modified their holdings of SYBX. Renaissance Technologies LLC grew its stake 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 worth $96,000 after purchasing an additional 46,117 shares during the last quarter. Citadel Advisors LLC purchased a new position in Synlogic during the 3rd quarter valued at $49,000. Finally, DRW Securities LLC purchased a new position in Synlogic during the 4th quarter valued at $27,000. 63.40% of the stock is 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.