Synlogic Inc (NASDAQ:SYBX) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 1,200,400 shares, a drop of 13.7% from the May 30th total of 1,390,500 shares. Based on an average daily volume of 125,500 shares, the short-interest ratio is presently 9.6 days. Currently, 7.4% of the company’s shares are short sold.
Several equities research analysts recently issued reports on the stock. Piper Jaffray Companies raised their price objective on shares of Synlogic from $16.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. ValuEngine upgraded shares of Synlogic from a “sell” rating to a “hold” rating in a research report on Thursday. HC Wainwright raised their price objective on shares of Synlogic from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Wedbush restated an “outperform” rating and set a $20.00 price objective on shares of Synlogic in a research report on Wednesday, June 12th. Finally, Jefferies Financial Group assumed coverage on shares of Synlogic in a research report on Tuesday, April 30th. They set a “buy” rating and a $18.00 price objective for the company. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Synlogic currently has a consensus rating of “Buy” and an average price target of $20.00.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers lifted its position in shares of Synlogic by 45.7% in the 4th quarter. Rhumbline Advisers now owns 21,753 shares of the biotechnology company’s stock worth $152,000 after purchasing an additional 6,820 shares during the period. BlackRock Inc. lifted its position in shares of Synlogic by 33.4% in the 4th quarter. BlackRock Inc. now owns 1,248,355 shares of the biotechnology company’s stock worth $8,750,000 after purchasing an additional 312,398 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Synlogic by 12.1% in the 4th quarter. Bank of New York Mellon Corp now owns 56,774 shares of the biotechnology company’s stock worth $398,000 after purchasing an additional 6,129 shares during the period. Northern Trust Corp lifted its position in shares of Synlogic by 1.2% in the 4th quarter. Northern Trust Corp now owns 167,135 shares of the biotechnology company’s stock worth $1,172,000 after purchasing an additional 2,005 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Synlogic by 50.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 316,656 shares of the biotechnology company’s stock worth $2,220,000 after purchasing an additional 105,628 shares during the period. 81.89% of the stock is owned by institutional investors and hedge funds.
Shares of SYBX traded down $0.06 during trading on Friday, reaching $5.11. 209,493 shares of the company traded hands, compared to its average volume of 221,554. Synlogic has a twelve month low of $4.86 and a twelve month high of $14.59. The firm has a market cap of $142.43 million, a PE ratio of -2.52 and a beta of 2.40. The business’s 50-day moving average is $7.97. The company has a debt-to-equity ratio of 0.20, a quick ratio of 11.53 and a current ratio of 11.53.
Synlogic (NASDAQ:SYBX) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.03. Synlogic had a negative net margin of 2,005.43% and a negative return on equity of 38.93%. The business had revenue of $0.34 million during the quarter, compared to analysts’ expectations of $0.42 million. Sell-side analysts predict that Synlogic will post -1.99 EPS for the current fiscal year.
Synlogic Company Profile
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 for the treatment of hyperammonemia, which includes patients with liver diseases, such as hepatic encephalopathy, as well as patients with urea cycle disorders; and SYNB1618, an oral therapy that is in Phase I/IIa clinical trial to treat phenylketonuria.
