Synlogic (NASDAQ:SYBX) Stock Passes Above 50 Day Moving Average of $1.82

Synlogic, Inc. (NASDAQ:SYBX) shares crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $1.82 and traded as high as $1.89. Synlogic shares last traded at $1.87, with a volume of 54,373 shares traded.

Wall Street Analysts Forecast Growth

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

Synlogic Price Performance

The stock has a market cap of $21.79 million, a PE ratio of -0.17 and a beta of 1.09. The business has a fifty day moving average of $1.82 and a 200 day moving average of $2.50.

Synlogic (NASDAQ:SYBX) last announced its quarterly earnings data on Tuesday, March 19th. The biotechnology company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.60). Synlogic had a negative net margin of 1,699.23% and a negative return on equity of 109.34%. The firm had revenue of $2.77 million for the quarter, compared to analyst estimates of $2.71 million. On average, equities research analysts expect that Synlogic, Inc. will post -2.09 EPS for the current year.

Institutional Trading of Synlogic

Institutional investors and hedge funds have recently bought and sold shares of the company. Two Sigma Securities LLC acquired a new stake in Synlogic during the first quarter valued at approximately $27,000. WINTON GROUP Ltd acquired a new stake in Synlogic during the third quarter valued at approximately $35,000. Citadel Advisors LLC acquired a new stake in Synlogic during the fourth quarter valued at approximately $42,000. Envestnet Asset Management Inc. raised its stake in Synlogic by 273.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 78,671 shares of the biotechnology company’s stock valued at $60,000 after buying an additional 57,604 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Synlogic by 333.6% during the fourth quarter. Millennium Management LLC now owns 95,434 shares of the biotechnology company’s stock valued at $73,000 after buying an additional 73,422 shares in the last quarter. Institutional investors and hedge funds 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.