Synlogic (NASDAQ:SYBX) Stock Crosses Below 50 Day Moving Average of $1.53

Shares of Synlogic, Inc. (NASDAQ:SYBX) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $1.53 and traded as low as $1.47. Synlogic shares last traded at $1.47, with a volume of 360 shares.

Synlogic Stock Performance

The firm has a market capitalization of $16.98 million, a price-to-earnings ratio of -0.14 and a beta of 0.92. The business has a fifty day moving average of $1.53 and a two-hundred day moving average of $1.67.

Synlogic (NASDAQ:SYBX) last released its earnings results on Thursday, August 8th. The biotechnology company reported $0.16 earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.67. Synlogic had a negative return on equity of 194.73% and a negative net margin of 2,284.65%. As a group, sell-side analysts predict that Synlogic, Inc. will post -1.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Synlogic

An institutional investor recently raised its position in Synlogic stock. Armistice Capital LLC boosted its holdings in Synlogic, Inc. (NASDAQ:SYBX) by 75.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,055,000 shares of the biotechnology company’s stock after buying an additional 455,126 shares during the period. Armistice Capital LLC owned approximately 11.48% of Synlogic worth $4,062,000 as of its most recent filing with the Securities and Exchange Commission. 63.40% of the stock is owned by institutional investors.

Synlogic Company Profile

Synlogic, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of synthetic biotics to treat metabolic 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 I 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.