Synlogic, Inc. (NASDAQ:SYBX) Short Interest Up 52.5% in August

Synlogic, Inc. (NASDAQ:SYBX) was the recipient of a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 48,200 shares, an increase of 52.5% from the July 31st total of 31,600 shares. Based on an average trading volume of 16,800 shares, the days-to-cover ratio is presently 2.9 days. Currently, 0.7% of the shares of the company are sold short.

Institutional Investors Weigh In On Synlogic

A hedge fund recently raised its stake in Synlogic stock. Armistice Capital LLC grew its holdings in Synlogic, Inc. (NASDAQ:SYBX) by 75.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,055,000 shares of the biotechnology company’s stock after purchasing an additional 455,126 shares during the period. Armistice Capital LLC owned approximately 11.48% of Synlogic worth $4,062,000 as of its most recent SEC filing. 63.40% of the stock is currently owned by institutional investors and hedge funds.

Synlogic Stock Performance

Shares of NASDAQ:SYBX opened at $1.50 on Thursday. The company has a market capitalization of $17.56 million, a PE ratio of -0.15 and a beta of 0.92. The stock has a fifty day moving average of $1.53 and a 200-day moving average of $1.68. Synlogic has a one year low of $1.22 and a one year high of $7.65.

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.