Synlogic (NASDAQ:SYBX) Stock Rating Reaffirmed by Chardan Capital


Synlogic (NASDAQ:SYBX – Get an assessment)The stock had its “buy” rating restated by analysts at Chardan Capital in a report released on Friday, reports TipRanks. They currently have a price target of $9.00 on shares of the biotech company.

A number of other analysts have also recently released reports on the company. SVB Leerink reduced its target price on Synlogic from $11.00 to $8.00 and set an “outperform” rating for the company in a Friday, March 18 research note. Oppenheimer lowered his price target on Synlogic from $7.00 to $6.00 in a Thursday, May 12 report. Finally, HC Wainwright reiterated a “buy” rating and set a price target of $7.00 on Synlogic shares in a Monday, May 23 report. Five research analysts rated the stock with a buy rating. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $7.80.

Shares of SYBX traded down $0.03 during the midday session on Friday, hitting $1.14. The company had a trading volume of 40,204 shares, compared to an average volume of 193,780. Synlogic has a 1-year low of $1.02 and a 1-year high of $4.54. The stock has a market capitalization of $80.09 million, a PE ratio of -1.14 and a beta of 1.59. The company has a 50-day simple moving average of $1.52 and a 200-day simple moving average of $1.96.

Synlogic (NASDAQ:SYBX – Get Rating) last reported results on Thursday, May 12. The biotech company reported ($0.22) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.23) by $0.01. Synlogic had a negative return on equity of 43.07% and a negative net margin of 3,067.42%. In the same period a year earlier, the company posted ($0.36) earnings per share. On average, sell-side analysts expect Synlogic to post -0.9 EPS for the current year.

Several institutional investors and hedge funds have recently changed their positions in SYBX. Millennium Management LLC bought a new stock position in Synlogic in Q2 worth approximately $301,000. BlackRock Inc. increased its position in Synlogic shares by 1.6% during the third quarter. BlackRock Inc. now owns 372,959 shares of the biotech company worth $1,138,000 after acquiring 5,997 additional shares last quarter. Geode Capital Management LLC increased its position in Synlogic shares by 20.0% during the 3rd quarter. Geode Capital Management LLC now owns 308,507 shares of the biotech company worth $940,000 after acquiring 51,446 additional shares last quarter. Franklin Resources Inc. acquired a new stake in Synlogic stock during Q3 worth approximately $310,000. Finally, Morgan Stanley increased its position in Synlogic shares by 295.7% during the third quarter. Morgan Stanley now owns 76,157 shares of the biotech company worth $232,000 after acquiring an additional 56,909 shares last quarter. Institutional investors and hedge funds own 62.15% of the company’s shares.

About Synlogic (Get a rating)

Synlogic, Inc., a clinical-stage biopharmaceutical company, engages in the discovery and development of synthetic biotic drugs to treat metabolic and immunological diseases in the United States. Its therapeutic programs include SYNB1618 and SYNB1934 which are orally administered, non-systemically absorbed drug candidates that are in Phase II clinical trials for the treatment of phenylketonuria; SYNB1353, an orally administered, non-systemically absorbed drug candidate for the treatment of homocystinuria; and SYNB8802, an orally administered, non-systemically absorbed drug candidate in a Phase I clinical trial for the treatment of enteric hyperoxaluria.

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Sallie R. Loera