Synlogic (NASDAQ:SYBX) Shares Cross Below Fifty Day Moving Average of $1.52

Synlogic, Inc. (NASDAQ:SYBX) shares passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $1.52 and traded as low as $1.38. Synlogic shares last traded at $1.40, with a volume of 35,127 shares.

Synlogic Price Performance

The stock has a 50-day moving average price of $1.52 and a 200 day moving average price of $1.65. The firm has a market cap of $16.38 million, a price-to-earnings ratio of -0.14 and a beta of 0.84.

Synlogic (NASDAQ:SYBX) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.67. Synlogic had a negative return on equity of 194.73% and a negative net margin of 2,284.65%. As a group, equities research analysts predict that Synlogic, Inc. will post -1.98 earnings per share for the current year.

Institutional Investors Weigh In On Synlogic

An institutional investor recently raised its position in Synlogic stock. Armistice Capital LLC raised its holdings in Synlogic, Inc. (NASDAQ:SYBX) by 75.9% during the fourth quarter, according to its most recent filing with the Securities and 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 quarter. Armistice Capital LLC owned 11.48% of Synlogic worth $4,062,000 as of its most recent filing with the Securities and Exchange Commission. 63.40% of the stock is owned by institutional investors and hedge funds.

Synlogic Company Profile

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.