Bridgeway Capital Management Inc. bought a new position in Synlogic Inc (NASDAQ:SYBX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 77,114 shares of the biotechnology company’s stock, valued at approximately $1,096,000.
A number of other hedge funds and other institutional investors have also modified their holdings of SYBX. American International Group Inc. bought a new position in Synlogic in the third quarter worth about $145,000. Rhumbline Advisers bought a new position in Synlogic in the third quarter worth about $212,000. Wells Fargo & Company MN bought a new position in Synlogic in the third quarter worth about $351,000. Bank of New York Mellon Corp bought a new position in Synlogic in the third quarter worth about $720,000. Finally, NF Trinity Capital Hong Kong Ltd bought a new position in Synlogic in the third quarter worth about $975,000. 81.07% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on SYBX shares. Citigroup raised shares of Synlogic from a “neutral” rating to a “buy” rating in a report on Friday, August 24th. Zacks Investment Research cut shares of Synlogic from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. HC Wainwright set a $20.00 target price on shares of Synlogic and gave the stock a “buy” rating in a report on Tuesday, October 9th. Oppenheimer set a $18.00 target price on shares of Synlogic and gave the stock a “buy” rating in a report on Monday, November 12th. Finally, Wedbush reissued an “outperform” rating on shares of Synlogic in a report on Friday, September 7th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $17.79.
Synlogic (NASDAQ:SYBX) last released its quarterly earnings results on Tuesday, November 13th. The biotechnology company reported ($0.43) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.64) by $0.21. The company had revenue of $1.80 million for the quarter, compared to analysts’ expectations of $0.20 million. Synlogic had a negative return on equity of 39.07% and a negative net margin of 1,912.74%. On average, sell-side analysts forecast that Synlogic Inc will post -2.2 EPS for the current year.
In other news, insider Paul Francis Miller sold 3,000 shares of Synlogic stock in a transaction that occurred on Thursday, October 18th. The stock was sold at an average price of $9.77, for a total transaction of $29,310.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 23.30% of the company’s stock.
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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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