Synlogic Inc (NASDAQ:SYBX) shares saw unusually-strong trading volume on Wednesday after Piper Jaffray Companies raised their price target on the stock from $15.00 to $16.00. Piper Jaffray Companies currently has an overweight rating on the stock. Approximately 2,627,550 shares changed hands during mid-day trading, an increase of 2,910% from the previous session’s volume of 87,304 shares.The stock last traded at $7.85 and had previously closed at $6.27.
SYBX has been the topic of a number of other research reports. Chardan Capital set a $20.00 target price on shares of Synlogic and gave the company a “buy” rating in a research report on Friday, April 12th. BTIG Research initiated coverage on shares of Synlogic in a research note on Tuesday, February 12th. They set a “buy” rating and a $22.00 price target on the stock. Zacks Investment Research upgraded shares of Synlogic from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a research note on Friday, March 15th. Finally, Jefferies Financial Group initiated coverage on shares of Synlogic in a research note on Tuesday, April 30th. They set a “buy” rating and a $18.00 price target on the stock. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $18.68.
Large investors have recently modified their holdings of the business. Bank of Montreal Can increased its stake in Synlogic by 5,743.1% during the first quarter. Bank of Montreal Can now owns 12,738 shares of the biotechnology company’s stock worth $97,000 after purchasing an additional 12,520 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Synlogic during the first quarter worth approximately $114,000. Rhumbline Advisers increased its stake in shares of Synlogic by 45.7% during the fourth quarter. Rhumbline Advisers now owns 21,753 shares of the biotechnology company’s stock worth $152,000 after buying an additional 6,820 shares during the period. State of Wisconsin Investment Board increased its stake in shares of Synlogic by 29.8% during the first quarter. State of Wisconsin Investment Board now owns 20,900 shares of the biotechnology company’s stock worth $159,000 after buying an additional 4,800 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Synlogic by 4.6% during the first quarter. Wells Fargo & Company MN now owns 28,411 shares of the biotechnology company’s stock worth $216,000 after buying an additional 1,245 shares during the period. Institutional investors own 81.89% of the company’s stock.
Synlogic (NASDAQ:SYBX) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($0.51) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.54) by $0.03. Synlogic had a negative net margin of 2,005.43% and a negative return on equity of 38.93%. The firm had revenue of $0.34 million for the quarter, compared to analyst estimates of $0.42 million. As a group, analysts forecast that Synlogic Inc will post -2.28 EPS for the current fiscal year.
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Synlogic Company Profile (NASDAQ:SYBX)
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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