Synlogic (SYBX) Trading Up 18.9% After Analyst Upgrade

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Synlogic Inc (NASDAQ:SYBX) was up 18.9% during mid-day trading on Wednesday after Citigroup raised their price target on the stock to $26.00. Citigroup currently has a buy rating on the stock. Synlogic traded as high as $12.95 and last traded at $12.76. Approximately 615,526 shares traded hands during trading, an increase of 354% from the average daily volume of 135,556 shares. The stock had previously closed at $10.73.

Several other research firms also recently weighed in on SYBX. reissued a “buy” rating and issued a $18.00 target price on shares of Synlogic in a research report on Tuesday, July 3rd. Oppenheimer started coverage on shares of Synlogic in a research report on Friday, June 29th. They issued an “outperform” rating and a $18.00 target price for the company. Zacks Investment Research downgraded shares of Synlogic from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. ValuEngine raised shares of Synlogic from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Finally, HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Synlogic in a research report on Monday, June 11th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $18.81.

In other news, insider Paul Francis Miller sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $9.76, for a total value of $29,280.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 9,000 shares of company stock valued at $91,620 in the last three months. Insiders own 23.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SYBX. Farallon Capital Management LLC acquired a new position in shares of Synlogic in the 1st quarter valued at about $9,146,000. Sofinnova Ventures Inc acquired a new position in shares of Synlogic in the 1st quarter valued at about $5,393,000. NEA Management Company LLC boosted its holdings in shares of Synlogic by 10.7% in the 1st quarter. NEA Management Company LLC now owns 4,229,410 shares of the biotechnology company’s stock valued at $39,672,000 after buying an additional 410,000 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of Synlogic in the 1st quarter valued at about $538,000. Finally, JBF Capital Inc. acquired a new position in shares of Synlogic in the 1st quarter valued at about $422,000. 79.39% of the stock is owned by institutional investors and hedge funds.

The firm has a market cap of $269.06 million, a P/E ratio of -2.17 and a beta of 1.82.

Synlogic (NASDAQ:SYBX) last posted its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported ($0.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.06). Synlogic had a negative net margin of 5,949.04% and a negative return on equity of 43.51%. The business had revenue of $0.25 million during the quarter, compared to analyst estimates of $0.22 million. analysts predict that Synlogic Inc will post -2.47 EPS for the current fiscal year.

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 lead therapeutic programs include SYNB1020, an oral therapy, which is in Phase I clinical trial for the treatment of patients with liver disease and hepatic encephalopathy, and urea cycle disorders; and SYNB1618, an oral therapy that is in Phase I/IIa clinical trial to treat phenylketonuria.

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