Synthorx (NASDAQ:THOR) Trading 18.7% Higher

Synthorx Inc (NASDAQ:THOR)’s share price traded up 18.7% during trading on Wednesday . The company traded as high as $21.98 and last traded at $21.45, 674,700 shares changed hands during trading. An increase of 596% from the average session volume of 96,966 shares. The stock had previously closed at $18.07.

A number of equities analysts have commented on the company. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Synthorx in a research note on Monday, November 11th. Evercore ISI restated a “buy” rating and set a $35.00 price objective on shares of Synthorx in a research note on Sunday, November 24th. ValuEngine lowered Synthorx from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Finally, Zacks Investment Research raised Synthorx from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Saturday, November 9th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Synthorx currently has an average rating of “Buy” and an average price target of $27.00.

The stock has a fifty day simple moving average of $15.00 and a two-hundred day simple moving average of $15.44. The stock has a market cap of $693.65 million and a price-to-earnings ratio of -3.25.

Synthorx (NASDAQ:THOR) last issued its earnings results on Tuesday, November 5th. The medical instruments supplier reported ($0.38) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.50) by $0.12. On average, equities analysts forecast that Synthorx Inc will post -1.54 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of Synthorx by 25.7% in the 2nd quarter. BlackRock Inc. now owns 543,305 shares of the medical instruments supplier’s stock worth $7,341,000 after buying an additional 111,165 shares during the last quarter. Vanguard Group Inc. increased its stake in Synthorx by 8.4% during the 2nd quarter. Vanguard Group Inc. now owns 336,963 shares of the medical instruments supplier’s stock valued at $4,552,000 after purchasing an additional 26,085 shares in the last quarter. State Street Corp increased its stake in Synthorx by 18.2% during the 3rd quarter. State Street Corp now owns 144,988 shares of the medical instruments supplier’s stock valued at $2,359,000 after purchasing an additional 22,281 shares in the last quarter. Morgan Stanley increased its stake in Synthorx by 9,312.2% during the 2nd quarter. Morgan Stanley now owns 123,112 shares of the medical instruments supplier’s stock valued at $1,663,000 after purchasing an additional 121,804 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Synthorx by 1.6% during the 2nd quarter. Northern Trust Corp now owns 92,542 shares of the medical instruments supplier’s stock valued at $1,251,000 after purchasing an additional 1,483 shares in the last quarter. 66.11% of the stock is currently owned by institutional investors.

About Synthorx (NASDAQ:THOR)

Synthorx, Inc, a biopharmaceutical company, focuses on the development of cytokine Synthorin programs for the treatment of cancer and autoimmune disorders in the United States. The company's lead product candidate is THOR-707, a variant of recombinant human IL-2 that is in the development in various solid tumor types as a single agent and in combination with an immune checkpoint inhibitor.

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