Chardan Capital set a $20.00 target price on Synlogic (NASDAQ:SYBX) in a research note released on Friday, TipRanks reports. The brokerage currently has a buy rating on the biotechnology company’s stock.
A number of other brokerages also recently weighed in on SYBX. BTIG Research assumed coverage on shares of Synlogic in a research note on Tuesday, February 12th. They issued a buy rating and a $22.00 target price for the company. Zacks Investment Research downgraded shares of Synlogic from a buy rating to a hold rating in a research note on Saturday, January 5th. Finally, ValuEngine downgraded shares of Synlogic from a buy rating to a hold rating in a research note on Wednesday, January 2nd. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $18.96.
Shares of SYBX stock opened at $7.96 on Friday. Synlogic has a 12-month low of $5.75 and a 12-month high of $14.59. The stock has a market cap of $206.50 million, a P/E ratio of -3.92 and a beta of 2.35.
In related news, insider Paul Francis Miller sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $9.75, for a total transaction of $87,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 23.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SYBX. Wells Fargo & Company MN acquired a new position in Synlogic during the third quarter valued at approximately $351,000. JPMorgan Chase & Co. acquired a new position in shares of Synlogic in the third quarter valued at approximately $3,504,000. Rhumbline Advisers acquired a new position in shares of Synlogic in the third quarter valued at approximately $212,000. Bank of New York Mellon Corp acquired a new position in shares of Synlogic in the third quarter valued at approximately $720,000. Finally, BlackRock Inc. acquired a new position in shares of Synlogic in the third quarter valued at approximately $13,301,000. Hedge funds and other institutional investors own 81.05% of the company’s stock.
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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