Synlogic (NASDAQ:SYBX) Shares Pass Above 50 Day Moving Average of $1.83

Synlogic, Inc. (NASDAQ:SYBX) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $1.83 and traded as high as $1.85. Synlogic shares last traded at $1.79, with a volume of 20,569 shares traded.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. SVB Leerink restated a “market perform” rating on shares of Synlogic in a research report on Friday, February 9th. Leerink Partnrs cut Synlogic from an “outperform” rating to a “market perform” rating in a research report on Friday, February 9th. HC Wainwright upgraded Synlogic from a “sell” rating to a “neutral” rating in a research report on Wednesday, March 20th. Finally, Chardan Capital cut Synlogic from a “buy” rating to a “neutral” rating in a research report 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $65.00.

Synlogic Price Performance

The company has a market capitalization of $20.85 million, a P/E ratio of -0.16 and a beta of 1.09. The company has a fifty day moving average price of $1.83 and a two-hundred day moving average price of $2.46.

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

Hedge Funds Weigh In On Synlogic

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Armistice Capital LLC acquired a new position in Synlogic in the third quarter valued at approximately $1,686,000. Harbor Capital Advisors Inc. grew its stake 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 period. Finally, WINTON GROUP Ltd bought a new position in Synlogic in the 3rd quarter valued at $35,000. 63.40% of the stock is owned by institutional investors and hedge funds.

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.