Other equities research analysts have also recently issued reports about the stock. Citigroup raised shares of Synlogic from a neutral rating to a buy rating in a research note on Friday, August 24th. reissued a buy rating and issued a $18.00 price objective on shares of Synlogic in a research note on Tuesday, July 3rd. Oppenheimer began coverage on shares of Synlogic in a research note on Friday, June 29th. They issued an outperform rating and a $18.00 price objective on the stock. Zacks Investment Research cut shares of Synlogic from a buy rating to a hold rating in a research note on Wednesday, August 15th. Finally, Wedbush reissued an outperform rating on shares of Synlogic in a research note on Friday, September 7th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $17.93.
Shares of NASDAQ SYBX opened at $9.74 on Tuesday. The stock has a market capitalization of $361.37 million, a P/E ratio of -1.66 and a beta of 1.69. Synlogic has a 52 week low of $7.27 and a 52 week high of $18.36.
In other Synlogic news, insider Paul Francis Miller sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $9.76, for a total transaction of $29,280.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 12,000 shares of company stock worth $139,110 over the last ninety days. 23.30% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Synlogic during the 1st quarter worth about $120,000. Element Capital Management LLC acquired a new stake in shares of Synlogic during the 1st quarter worth about $182,000. Northern Trust Corp acquired a new stake in shares of Synlogic during the 1st quarter worth about $249,000. Dimensional Fund Advisors LP acquired a new stake in shares of Synlogic during the 1st quarter worth about $538,000. Finally, Sofinnova Ventures Inc acquired a new stake in shares of Synlogic during the 1st quarter worth about $5,393,000. 79.39% of the stock is currently owned by 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, which is in Phase I clinical trial for the treatment of patients with liver disease and hepatic encephalopathy, and urea cycle disorders; and SYNB1618, an oral therapy that is in Phase I/IIa clinical trial to treat phenylketonuria.
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