Synlogic (NASDAQ:SYBX – Get Rating) posted its earnings results on Thursday. The biotechnology company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01, MarketWatch Earnings reports. During the same quarter in the prior year, the company earned ($0.36) earnings per share.
Shares of NASDAQ:SYBX opened at $1.16 on Friday. Synlogic has a 12 month low of $1.02 and a 12 month high of $4.54. The firm’s 50-day moving average is $1.98 and its 200 day moving average is $2.17.
Large investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its position in Synlogic by 663.1% in the 4th quarter. Bank of America Corp DE now owns 10,867 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 9,443 shares during the period. Charles Schwab Investment Management Inc. purchased a new stake in Synlogic in the 4th quarter valued at about $61,000. Northern Trust Corp boosted its position in Synlogic by 15.3% in the 4th quarter. Northern Trust Corp now owns 77,159 shares of the biotechnology company’s stock valued at $187,000 after buying an additional 10,224 shares during the period. Morgan Stanley boosted its position in Synlogic by 295.7% in the 3rd quarter. Morgan Stanley now owns 76,157 shares of the biotechnology company’s stock valued at $232,000 after buying an additional 56,909 shares during the period. Finally, Millennium Management LLC purchased a new stake in Synlogic in the 2nd quarter valued at about $301,000. Institutional investors own 62.15% of the company’s stock.
A number of analysts have recently weighed in on the stock. Oppenheimer reduced their target price on shares of Synlogic from $7.00 to $6.00 in a report on Thursday. SVB Leerink cut their price target on shares of Synlogic from $11.00 to $8.00 and set an “outperform” rating on the stock in a report on Friday, March 18th. Finally, Zacks Investment Research downgraded shares of Synlogic from a “buy” rating to a “hold” rating in a report on Tuesday, March 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $6.96.
About Synlogic (Get Rating)
Synlogic, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of synthetic biotic medicines to treat metabolic and immunological diseases in the United States. Its therapeutic programs include SYNB1618 and SYNB1934 that are orally administered, non-systemically absorbed drug candidates, which are in Phase II clinical trials to treat phenylketonuria; SYNB1353, an orally administered, non-systemically absorbed drug candidate to treat homocystinuria; and SYNB8802, an orally administered, non-systemically absorbed drug candidate that is in Phase I clinical trial for the treatment of enteric hyperoxaluria.
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