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

Shares of Synlogic, Inc. (NASDAQ:SYBX) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $0.64 and traded as low as $0.5961. Synlogic shares last traded at $0.6699, with a volume of 16,653 shares trading hands.

Synlogic Stock Up 1.5%

The firm has a market capitalization of $7.95 million, a PE ratio of -2.62 and a beta of 0.52. The firm’s 50 day moving average price is $0.64 and its two-hundred day moving average price is $0.87.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SYBX. DRW Securities LLC bought a new position in Synlogic during the 4th quarter valued at $27,000. Citadel Advisors LLC bought a new position in Synlogic during the 3rd quarter valued at $49,000. Finally, Renaissance Technologies LLC boosted its stake in Synlogic by 116.7% during the 4th quarter. Renaissance Technologies LLC now owns 85,627 shares of the biotechnology company’s stock valued at $96,000 after acquiring an additional 46,117 shares during the last quarter. 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.