Synlogic (NASDAQ:SYBX) Rating Increased to Neutral at HC Wainwright

Synlogic (NASDAQ:SYBXGet Free Report) was upgraded by stock analysts at HC Wainwright from a “sell” rating to a “neutral” rating in a research note issued on Wednesday, MarketBeat.com reports.

Other research analysts have also issued reports about the stock. SVB Leerink reissued a “market perform” rating on shares of Synlogic in a research note on Friday, February 9th. Leerink Partnrs lowered shares of Synlogic from an “outperform” rating to a “market perform” rating in a research report on Friday, February 9th. Alliance Global Partners initiated coverage on shares of Synlogic in a research report on Monday, December 11th. They set a “buy” rating and a $30.00 price target on the stock. Finally, Chardan Capital lowered shares of Synlogic from a “buy” rating to a “neutral” rating in a research report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Synlogic presently has a consensus rating of “Hold” and a consensus target price of $65.00.

Read Our Latest Report on Synlogic

Synlogic Price Performance

SYBX opened at $1.75 on Wednesday. The company’s 50 day simple moving average is $2.46 and its two-hundred day simple moving average is $2.99. Synlogic has a 1-year low of $1.55 and a 1-year high of $10.64. The firm has a market capitalization of $16.08 million, a price-to-earnings ratio of -0.16 and a beta of 1.09.

Institutional Trading of Synlogic

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Securities LLC purchased a new stake in Synlogic in the first quarter valued at approximately $27,000. WINTON GROUP Ltd purchased a new stake in Synlogic in the third quarter valued at approximately $35,000. Citadel Advisors LLC acquired a new position in shares of Synlogic in the fourth quarter worth $42,000. Envestnet Asset Management Inc. grew its stake in shares of Synlogic by 273.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 78,671 shares of the biotechnology company’s stock worth $60,000 after acquiring an additional 57,604 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Synlogic by 333.6% in the fourth quarter. Millennium Management LLC now owns 95,434 shares of the biotechnology company’s stock worth $73,000 after acquiring an additional 73,422 shares in the last quarter. Hedge funds and other institutional investors own 47.18% of the company’s stock.

About Synlogic

(Get Free Report)

Synlogic, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of synthetic biotics to treat metabolic and immunological 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 II 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.

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Analyst Recommendations for Synlogic (NASDAQ:SYBX)

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