Synthorx (NASDAQ:THOR) Rating Lowered to Hold at Zacks Investment Research

Synthorx (NASDAQ:THOR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Synthorx Inc. is a biopharmaceutical company which focuses on cancer and autoimmune disorders. The company’s product pipeline consists of THOR-707, IL-2 autoimmune synthorin, IL-10 synthorin and IL-15 synthorin which are in clinical stage. Synthorx Inc. is based in La Jolla, CA. “

Separately, HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Synthorx in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Synthorx has a consensus rating of “Buy” and an average price target of $22.67.

Shares of NASDAQ:THOR traded down $0.68 during midday trading on Thursday, hitting $14.99. 20,824 shares of the stock were exchanged, compared to its average volume of 49,279. Synthorx has a 52-week low of $11.00 and a 52-week high of $23.53. The stock’s fifty day moving average is $14.97.

Synthorx (NASDAQ:THOR) last announced its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported ($0.39) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.03). On average, sell-side analysts anticipate that Synthorx will post -1.81 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its position in Synthorx by 1.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 61,599 shares of the medical instruments supplier’s stock worth $833,000 after buying an additional 874 shares during the last quarter. Strs Ohio acquired a new position in Synthorx during the first quarter worth $38,000. Wells Fargo & Company MN increased its position in Synthorx by 156.5% during the second quarter. Wells Fargo & Company MN now owns 12,056 shares of the medical instruments supplier’s stock worth $162,000 after buying an additional 7,356 shares during the last quarter. Matisse Capital increased its position in Synthorx by 16.9% during the first quarter. Matisse Capital now owns 64,333 shares of the medical instruments supplier’s stock worth $1,310,000 after buying an additional 9,300 shares during the last quarter. Finally, Emory University acquired a new position in Synthorx during the first quarter worth $2,439,000. 66.08% of the stock is currently owned by hedge funds and other institutional investors.

Synthorx Company Profile

Synthorx, Inc, a biopharmaceutical company, focuses on the development of cytokine Synthorin programs for the treatment of cancer and autoimmune disorders in the United States. The company's lead product candidate is THOR-707, a variant of recombinant human IL-2 that is in the development in various solid tumor types as a single agent and in combination with an immune checkpoint inhibitor.

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