Shares of Synlogic Inc (NASDAQ:SYBX) saw an uptick in trading volume on Wednesday . 2,627,550 shares were traded 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.
A number of research firms have recently issued reports on SYBX. Zacks Investment Research cut shares of Synlogic from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Jefferies Financial Group initiated coverage on shares of Synlogic in a research report on Tuesday, April 30th. They issued a “buy” rating and a $18.00 price objective for the company. Piper Jaffray Companies restated an “overweight” rating and issued a $16.00 price objective (up previously from $15.00) on shares of Synlogic in a research report on Wednesday. Wedbush restated an “outperform” rating and issued a $20.00 price objective on shares of Synlogic in a research report on Wednesday. Finally, Chardan Capital restated a “buy” rating and issued a $20.00 price objective on shares of Synlogic in a research report on Tuesday, March 12th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $18.68.
The company has a current ratio of 11.53, a quick ratio of 11.53 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $160.71 million, a price-to-earnings ratio of -3.87 and a beta of 2.30.
Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new stake in Synlogic during the 3rd quarter worth approximately $720,000. JPMorgan Chase & Co. acquired a new stake in shares of Synlogic in the 3rd quarter valued at approximately $3,504,000. Aquilo Capital Management LLC acquired a new stake in shares of Synlogic in the 3rd quarter valued at approximately $14,182,000. TIAA CREF Investment Management LLC acquired a new stake in shares of Synlogic in the 3rd quarter valued at approximately $251,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Synlogic in the 3rd quarter valued at approximately $9,958,000. Hedge funds and other institutional investors own 81.89% of the company’s stock.
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About Synlogic (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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