Q1 2024 EPS Estimates for Synlogic, Inc. Cut by HC Wainwright (NASDAQ:SYBX)

Synlogic, Inc. (NASDAQ:SYBXFree Report) – Investment analysts at HC Wainwright reduced their Q1 2024 EPS estimates for shares of Synlogic in a research report issued to clients and investors on Wednesday, March 20th. HC Wainwright analyst E. Arce now forecasts that the biotechnology company will earn ($2.19) per share for the quarter, down from their prior forecast of ($2.02). HC Wainwright currently has a “Neutral” rating on the stock. The consensus estimate for Synlogic’s current full-year earnings is ($4.18) per share. HC Wainwright also issued estimates for Synlogic’s Q2 2024 earnings at ($0.32) EPS, Q3 2024 earnings at ($0.31) EPS, Q4 2024 earnings at ($0.31) EPS, FY2024 earnings at ($3.12) EPS, FY2025 earnings at ($7.61) EPS, FY2026 earnings at ($6.83) EPS, FY2027 earnings at ($1.73) EPS and FY2028 earnings at $8.51 EPS.

Other equities research analysts have also recently issued reports about the stock. Chardan Capital cut shares of Synlogic from a “buy” rating to a “neutral” rating in a research note on Friday, February 9th. SVB Leerink reissued a “market perform” rating on shares of Synlogic in a research note on Friday, February 9th. Leerink Partnrs cut shares of Synlogic from an “outperform” rating to a “market perform” rating in a research note on Friday, February 9th. Finally, Alliance Global Partners started coverage on shares of Synlogic in a research note on Monday, December 11th. They issued a “buy” rating and a $30.00 price objective on the stock. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $65.00.

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Synlogic Stock Up 1.2 %

NASDAQ:SYBX opened at $1.75 on Friday. The stock has a market cap of $20.39 million, a PE ratio of -0.16 and a beta of 1.09. Synlogic has a fifty-two week low of $1.55 and a fifty-two week high of $10.64. The firm’s fifty day simple moving average is $2.46 and its 200-day simple moving average is $2.99.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citadel Advisors LLC purchased a new position in Synlogic in the 4th quarter valued at about $42,000. WINTON GROUP Ltd purchased a new position in shares of Synlogic during the 3rd quarter worth about $35,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Synlogic by 43.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 30,685 shares of the biotechnology company’s stock worth $118,000 after acquiring an additional 9,282 shares during the period. Ensign Peak Advisors Inc purchased a new position in shares of Synlogic during the 1st quarter worth about $79,000. Finally, UBS Group AG purchased a new position in shares of Synlogic during the 1st quarter worth about $84,000. 47.18% of the stock is currently owned by hedge funds and other institutional investors.

About Synlogic

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Synlogic, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of synthetic biotics to treat metabolic and immunological 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 II 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.

Further Reading

Earnings History and Estimates for Synlogic (NASDAQ:SYBX)

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