Synlogic (NASDAQ:SYBX) Trading Down 6.7%

Synlogic Inc (NASDAQ:SYBX)’s share price traded down 6.7% during mid-day trading on Friday . The stock traded as low as $2.89 and last traded at $2.98, 633,673 shares were traded during trading. An increase of 11% from the average session volume of 572,479 shares. The stock had previously closed at $3.20.

Several equities research analysts recently issued reports on the stock. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $7.00 price target (down previously from $10.00) on shares of Synlogic in a research note on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target on shares of Synlogic in a research note on Monday. Chardan Capital reaffirmed a “buy” rating on shares of Synlogic in a research note on Thursday, September 19th. ValuEngine raised shares of Synlogic from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Finally, Zacks Investment Research raised shares of Synlogic from a “hold” rating to a “buy” rating and set a $2.75 price target on the stock in a research note on Thursday, January 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $13.72.

The company’s 50-day moving average price is $2.47 and its two-hundred day moving average price is $3.50. The company has a market cap of $101.71 million, a P/E ratio of -1.47 and a beta of 2.61. The company has a current ratio of 12.70, a quick ratio of 12.70 and a debt-to-equity ratio of 0.14.

Synlogic (NASDAQ:SYBX) last released its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.39) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.09. The company had revenue of $0.31 million during the quarter, compared to the consensus estimate of $0.46 million. Synlogic had a negative net margin of 4,574.82% and a negative return on equity of 34.49%. As a group, analysts anticipate that Synlogic Inc will post -1.8 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in Synlogic by 11.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 37,208 shares of the biotechnology company’s stock valued at $339,000 after buying an additional 3,708 shares in the last quarter. Northern Trust Corp raised its stake in Synlogic by 17.1% during the 2nd quarter. Northern Trust Corp now owns 201,613 shares of the biotechnology company’s stock valued at $1,835,000 after purchasing an additional 29,401 shares during the last quarter. Parametric Portfolio Associates LLC acquired a new position in Synlogic during the 2nd quarter valued at $195,000. BlackRock Inc. raised its stake in Synlogic by 9.4% during the 2nd quarter. BlackRock Inc. now owns 1,317,063 shares of the biotechnology company’s stock valued at $11,986,000 after purchasing an additional 113,665 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Synlogic by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 770,641 shares of the biotechnology company’s stock valued at $7,013,000 after purchasing an additional 2,558 shares during the last quarter. 61.00% of the stock is owned by institutional investors.

About Synlogic (NASDAQ:SYBX)

Synlogic, Inc a clinical-stage biopharmaceutical company, focuses on the discovery and development of synthetic biotic medicines to treat metabolic, inflammatory, and cancer diseases in the United States. Its lead therapeutic programs include SYNB1020, an oral therapy for the treatment of hyperammonemia, which includes patients with liver diseases, such as hepatic encephalopathy, as well as patients with urea cycle disorders; and SYNB1618, an oral therapy that is in Phase I/IIa clinical trial to treat phenylketonuria.

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