Synlogic (NASDAQ:SYBX) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

Shares of Synlogic, Inc. (NASDAQ:SYBX) crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $0.64 and traded as low as $0.60. Synlogic shares last traded at $0.69, with a volume of 6,170 shares changing hands.

Synlogic Price Performance

The company has a market capitalization of $8.07 million, a P/E ratio of -2.65 and a beta of 0.56. The firm has a fifty day moving average price of $0.64 and a 200-day moving average price of $0.83.

Hedge Funds Weigh In On Synlogic

Institutional investors have recently bought and sold shares of the company. DRW Securities LLC purchased a new position in Synlogic in the fourth quarter valued at approximately $27,000. Citadel Advisors LLC purchased a new position in Synlogic in the third quarter valued at approximately $49,000. Finally, Renaissance Technologies LLC lifted its stake in Synlogic by 116.7% in the fourth quarter. Renaissance Technologies LLC now owns 85,627 shares of the biotechnology company’s stock valued at $96,000 after purchasing an additional 46,117 shares during the last quarter. Hedge funds and other institutional investors 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.