Synlogic (NASDAQ:SYBX) Share Price Passes Above Fifty Day Moving Average of $1.82

Shares of Synlogic, Inc. (NASDAQ:SYBX) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $1.82 and traded as high as $1.87. Synlogic shares last traded at $1.87, with a volume of 3,474 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. SVB Leerink reiterated a “market perform” rating on shares of Synlogic in a research note on Friday, February 9th. HC Wainwright raised shares of Synlogic from a “sell” rating to a “neutral” rating in a report on Wednesday, March 20th. Leerink Partnrs downgraded shares of Synlogic from an “outperform” rating to a “market perform” rating in a research report on Friday, February 9th. Finally, Chardan Capital downgraded Synlogic from a “buy” rating to a “neutral” rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Synlogic currently has an average rating of “Hold” and an average price target of $65.00.

Synlogic Stock Up 1.6 %

The stock has a market cap of $21.74 million, a P/E ratio of -0.17 and a beta of 1.03. The firm’s 50 day simple moving average is $1.82 and its two-hundred day simple moving average is $2.44.

Synlogic (NASDAQ:SYBX) last posted its quarterly earnings results on Tuesday, March 19th. The biotechnology company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.60). The business had revenue of $2.77 million during the quarter, compared to analyst estimates of $2.71 million. Synlogic had a negative net margin of 1,699.23% and a negative return on equity of 109.34%. As a group, equities analysts predict that Synlogic, Inc. will post -1.58 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SYBX. WINTON GROUP Ltd acquired a new position in shares of Synlogic during the third quarter valued at $35,000. Harbor Capital Advisors Inc. lifted its position in Synlogic by 43.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 30,685 shares of the biotechnology company’s stock valued at $118,000 after purchasing an additional 9,282 shares during the last quarter. Finally, Armistice Capital LLC acquired a new position in Synlogic during the 3rd quarter valued at about $1,686,000. 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.