Synlogic (NASDAQ:SYBX) Trading Down 8%

Synlogic, Inc. (NASDAQ:SYBX)’s share price fell 8% on Tuesday . The stock traded as low as $3.58 and last traded at $4.04. 511,504 shares were traded during trading, a decline of 69% from the average session volume of 1,637,697 shares. The stock had previously closed at $4.39.

Several research firms recently weighed in on SYBX. Chardan Capital lifted their price objective on shares of Synlogic from $5.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, January 13th. Zacks Investment Research lowered shares of Synlogic from a “buy” rating to a “hold” rating in a research note on Wednesday, January 20th.

The stock’s 50 day simple moving average is $3.87 and its two-hundred day simple moving average is $2.59. The stock has a market cap of $140.73 million, a P/E ratio of -2.48 and a beta of 2.20.

A number of institutional investors and hedge funds have recently made changes to their positions in SYBX. Verition Fund Management LLC raised its holdings in shares of Synlogic by 23.5% in the fourth quarter. Verition Fund Management LLC now owns 24,700 shares of the biotechnology company’s stock valued at $53,000 after purchasing an additional 4,700 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Synlogic by 27.1% in the fourth quarter. Renaissance Technologies LLC now owns 349,302 shares of the biotechnology company’s stock valued at $754,000 after purchasing an additional 74,574 shares during the last quarter. Flagship Harbor Advisors LLC raised its holdings in shares of Synlogic by 50.0% in the fourth quarter. Flagship Harbor Advisors LLC now owns 18,000 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 6,000 shares during the last quarter. Monticello Wealth Management LLC acquired a new stake in shares of Synlogic in the fourth quarter valued at approximately $35,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Synlogic during the third quarter worth $40,000. 39.53% of the stock is currently owned by hedge funds and other institutional investors.

Synlogic Company Profile (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 therapeutic programs include SYNB1618, an oral therapy that is in Phase I/IIa clinical trial to treat phenylketonuria.

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