Synlogic Inc (SYBX) Receives $19.40 Consensus PT from Analysts

Shares of Synlogic Inc (NASDAQ:SYBX) have been assigned an average recommendation of “Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $19.40.

Several equities research analysts recently weighed in on the company. HC Wainwright set a $20.00 price objective on Synlogic and gave the company a “buy” rating in a report on Tuesday. Wedbush reissued an “outperform” rating on shares of Synlogic in a report on Friday, September 7th. Oppenheimer assumed coverage on Synlogic in a report on Friday, June 29th. They set an “outperform” rating and a $18.00 price objective on the stock. reissued a “buy” rating and set a $18.00 price objective on shares of Synlogic in a report on Tuesday, July 3rd. Finally, Zacks Investment Research raised Synlogic from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a report on Tuesday, August 14th.

Shares of SYBX opened at $12.31 on Friday. Synlogic has a 52-week low of $7.27 and a 52-week high of $18.36. The firm has a market capitalization of $361.37 million, a PE ratio of -2.09 and a beta of 1.69.

Synlogic (NASDAQ:SYBX) last issued its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported ($0.59) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.06). Synlogic had a negative net margin of 5,949.04% and a negative return on equity of 43.51%. The business had revenue of $0.25 million during the quarter, compared to the consensus estimate of $0.22 million. On average, sell-side analysts expect that Synlogic will post -2.47 earnings per share for the current year.

In related news, insider Paul Francis Miller sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $9.76, for a total transaction of $29,280.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 12,000 shares of company stock worth $139,110. 23.30% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in SYBX. Farallon Capital Management LLC acquired a new position in Synlogic during the 1st quarter worth about $9,146,000. Sofinnova Ventures Inc acquired a new position in Synlogic during the 1st quarter worth about $5,393,000. Northern Trust Corp lifted its holdings in Synlogic by 473.8% during the 2nd quarter. Northern Trust Corp now owns 152,491 shares of the biotechnology company’s stock worth $1,499,000 after buying an additional 125,916 shares during the period. Dimensional Fund Advisors LP acquired a new position in Synlogic during the 1st quarter worth about $538,000. Finally, Element Capital Management LLC acquired a new position in Synlogic during the 1st quarter worth about $182,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

About Synlogic

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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Analyst Recommendations for Synlogic (NASDAQ:SYBX)

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