Synlogic (NASDAQ:SYBX) Stock Crosses Above Fifty Day Moving Average of $1.82

Synlogic, Inc. (NASDAQ:SYBX) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $1.82 and traded as high as $1.87. Synlogic shares last traded at $1.87, with a volume of 3,474 shares changing hands.

Analyst Upgrades and Downgrades

SYBX has been the subject of a number of recent analyst reports. Chardan Capital cut shares of Synlogic from a “buy” rating to a “neutral” rating in a research report on Friday, February 9th. Leerink Partnrs lowered 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, SVB Leerink reiterated a “market perform” rating on shares of Synlogic in a report on Friday, February 9th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Synlogic currently has an average rating of “Hold” and an average target price of $65.00.

Synlogic Stock Performance

The company has a market cap of $21.74 million, a PE ratio of -0.17 and a beta of 1.03. The company’s 50-day simple moving average is $1.82 and its 200 day simple moving average is $2.44.

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

Hedge Funds Weigh In On Synlogic

Institutional investors and hedge funds have recently modified their holdings of the company. WINTON GROUP Ltd acquired a new position in Synlogic in the third quarter valued at approximately $35,000. Armistice Capital LLC purchased a new stake in shares of Synlogic during the 3rd quarter worth approximately $1,686,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of 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 buying an additional 9,282 shares in the last quarter. Institutional investors and hedge funds own 63.40% of the company’s stock.

About Synlogic

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.