Synlogic (NASDAQ:SYBX) PT Raised to $6.00

Posted by on Jun 8th, 2023

Synlogic (NASDAQ:SYBX – Get Rating) had its target price raised by analysts at Chardan Capital from $5.50 to $6.00 in a note issued to investors on Tuesday, The Fly reports.

Separately, HC Wainwright reaffirmed a “buy” rating on shares of Synlogic in a research report on Thursday, April 27th.

Synlogic Stock Down 8.8 %

NASDAQ:SYBX opened at $0.57 on Tuesday. The company’s 50 day moving average is $0.57 and its 200-day moving average is $0.70. Synlogic has a 12 month low of $0.45 and a 12 month high of $1.35. The firm has a market cap of $38.88 million, a price-to-earnings ratio of -0.61 and a beta of 1.02.

Synlogic (NASDAQ:SYBX – Get Rating) last released its earnings results on Wednesday, March 29th. The biotechnology company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.02. The firm had revenue of $0.11 million during the quarter, compared to analyst estimates of $0.40 million. Synlogic had a negative net margin of 5,952.43% and a negative return on equity of 71.60%. Research analysts predict that Synlogic will post -0.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Synlogic

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fiduciary Trust Co. acquired a new stake in shares of Synlogic during the 1st quarter valued at about $212,000. Two Sigma Securities LLC bought a new stake in shares of Synlogic in the 1st quarter valued at approximately $27,000. Millennium Management LLC grew its stake in shares of Synlogic by 333.6% in the 4th quarter. Millennium Management LLC now owns 95,434 shares of the biotechnology company’s stock valued at $73,000 after purchasing an additional 73,422 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Synlogic by 273.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 78,671 shares of the biotechnology company’s stock worth $60,000 after buying an additional 57,604 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Synlogic by 110.2% during the 3rd quarter. Renaissance Technologies LLC now owns 115,600 shares of the biotechnology company’s stock worth $110,000 after buying an additional 60,600 shares during the period. 56.46% of the stock is currently owned by institutional investors.

About Synlogic

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Synlogic, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of synthetic biotics to treat metabolic and immunological diseases in the United States. Its pipeline include SYNB1618, an orally administered, non-systemically absorbed drug candidate to treat phenylketonuria; SYNB1934, an orally administered, non-systemically absorbed drug candidate, which is in Phase III clinical trial to treat phenylketonuria; SYNB1353, an orally administered, non-systemically absorbed drug candidate, which is in Phase II clinical to treat homocystinuria; SYNB8802, an orally administered, non-systemically absorbed drug candidate that is in Phase II clinical trial for the treatment of enteric hyperoxaluria; and SYNB2081 to lower uric acid for the potential treatment of gout.

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