HC Wainwright Reiterates “Buy” Rating for Synlogic (NASDAQ:SYBX)

Synlogic (NASDAQ:SYBX)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report issued on Monday, AnalystRatings.com reports. They currently have a $13.00 target price on the biotechnology company’s stock.

Several other equities research analysts have also recently weighed in on the stock. Oppenheimer reissued a “hold” rating on shares of Synlogic in a research report on Thursday, March 12th. Zacks Investment Research cut shares of Synlogic from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 19th. Finally, ValuEngine upgraded shares of Synlogic from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $12.43.

Shares of NASDAQ:SYBX traded down $0.09 during trading on Monday, reaching $1.96. The company had a trading volume of 93,230 shares, compared to its average volume of 476,140. The company has a fifty day moving average of $2.18 and a two-hundred day moving average of $2.33. The stock has a market capitalization of $64.82 million, a P/E ratio of -1.14 and a beta of 2.54. Synlogic has a 12 month low of $1.35 and a 12 month high of $10.01. The company has a current ratio of 15.03, a quick ratio of 15.03 and a debt-to-equity ratio of 0.15.

Synlogic (NASDAQ:SYBX) last released its earnings results on Thursday, March 12th. The biotechnology company reported ($0.37) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.44) by $0.07. Synlogic had a negative net margin of 2,310.98% and a negative return on equity of 33.22%. The company had revenue of $1.23 million for the quarter, compared to analyst estimates of $0.63 million. As a group, equities research analysts predict that Synlogic will post -1.75 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in Synlogic by 96.0% in the fourth quarter. Renaissance Technologies LLC now owns 301,272 shares of the biotechnology company’s stock worth $777,000 after purchasing an additional 147,600 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Synlogic in the 4th quarter worth approximately $262,000. Oxford Asset Management LLP acquired a new position in Synlogic in the 4th quarter worth approximately $197,000. Bank of New York Mellon Corp increased its holdings in Synlogic by 150.3% in the 4th quarter. Bank of New York Mellon Corp now owns 126,232 shares of the biotechnology company’s stock worth $325,000 after buying an additional 75,793 shares during the period. Finally, State Street Corp increased its holdings in Synlogic by 12.9% in the 3rd quarter. State Street Corp now owns 303,424 shares of the biotechnology company’s stock worth $695,000 after buying an additional 34,552 shares during the period. 51.35% of the stock is currently owned by hedge funds and other institutional investors.

Synlogic Company Profile

Synlogic, Inc a clinical-stage biopharmaceutical company, focuses on the discovery and development of synthetic biotic medicines to treat metabolic, inflammatory, and cancer diseases in the United States. Its lead therapeutic programs include SYNB1020, an oral therapy for the treatment of hyperammonemia, which includes patients with liver diseases, such as hepatic encephalopathy, as well as patients with urea cycle disorders; and SYNB1618, an oral therapy that is in Phase I/IIa clinical trial to treat phenylketonuria.

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Analyst Recommendations for Synlogic (NASDAQ:SYBX)

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