According to Zacks, “Synlogic, Inc. engaged in the development of a novel class of living Synthetic Biotic(TM) medicines based on its proprietary drug discovery and development platform. The company’s pipeline includes Synthetic Biotic medicines for the treatment of rare genetic diseases such as Urea Cycle Disorder and Phenylketonuria. In addition, the company is leveraging the broad potential of its platform to create Synthetic Biotic medicines for the treatment of other diseases, such as liver disease, inflammatory and immune disorders and cancer. It is collaborating with AbbVie to develop Synthetic Biotic-based treatments for inflammatory bowel disease. Synlogic Inc., formerly known as Mirna Therapeutics Inc., is based in Cambridge, Massachusetts. “
Other equities research analysts have also issued reports about the stock. SVB Leerink lowered their price target on shares of Synlogic from $15.00 to $11.00 and set an outperform rating for the company in a report on Thursday, November 11th. HC Wainwright lowered their price target on shares of Synlogic from $9.00 to $7.00 and set a buy rating for the company in a report on Wednesday, October 13th. Finally, Piper Sandler raised their price target on shares of Synlogic from $7.00 to $9.00 and gave the company an overweight rating in a report on Monday, September 20th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Synlogic currently has an average rating of Buy and an average target price of $8.86.
Synlogic (NASDAQ:SYBX) last released its quarterly earnings data on Wednesday, November 10th. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.29). During the same quarter last year, the business posted ($0.36) earnings per share. Sell-side analysts forecast that Synlogic will post -1.22 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates acquired a new position in Synlogic during the 3rd quarter worth $34,000. Charles Schwab Investment Management Inc. acquired a new position in Synlogic during the 2nd quarter worth $68,000. Magnetar Financial LLC acquired a new position in Synlogic during the 3rd quarter worth $100,000. Caas Capital Management LP acquired a new position in Synlogic during the 3rd quarter worth $153,000. Finally, Suvretta Capital Management LLC acquired a new position in Synlogic during the 3rd quarter worth $183,000. 73.45% of the stock is owned by institutional investors and hedge funds.
Synlogic Company Profile
Synlogic, Inc engages in the discovery and development of Synthetic Biotic medicines. It focuses in Phenylketonuria, Enteric Hyperoxaluria, Immuno Oncology solid tumors, inflammatory bowel disease, and vaccines and other inflammatory programs. The company was founded by Jim Collins and Tim Lu on August 28, 2017, and is headquartered in Cambridge, MA.
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