Synlogic (NASDAQ:SYBX) Given New $13.00 Price Target at HC Wainwright

Synlogic (NASDAQ:SYBX) had its price target trimmed by HC Wainwright from $22.00 to $13.00 in a report released on Wednesday, The Fly reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

Other analysts have also issued reports about the stock. ValuEngine raised shares of Synlogic from a sell rating to a hold rating in a research note on Thursday, August 1st. Chardan Capital set a $25.00 price target on shares of Synlogic and gave the company a buy rating in a research report on Monday, July 15th. Jefferies Financial Group began coverage on shares of Synlogic in a research report on Tuesday, April 30th. They set a buy rating and a $18.00 price target for the company. Piper Jaffray Companies reissued an overweight rating and set a $20.00 price target (up from $10.00) on shares of Synlogic in a research report on Tuesday, August 20th. Finally, Citigroup lowered shares of Synlogic from a buy rating to a sell rating and decreased their price target for the company from $20.00 to $2.00 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Synlogic currently has an average rating of Buy and an average price target of $16.33.

NASDAQ:SYBX opened at $3.27 on Wednesday. Synlogic has a 1-year low of $2.90 and a 1-year high of $14.59. The company has a 50-day moving average of $6.17 and a 200 day moving average of $7.75. The firm has a market cap of $102.45 million, a PE ratio of -1.61 and a beta of 2.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 14.43 and a quick ratio of 14.43.

Synlogic (NASDAQ:SYBX) last released its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.45) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.49) by $0.04. Synlogic had a negative net margin of 1,844.96% and a negative return on equity of 34.75%. The company had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. Sell-side analysts anticipate that Synlogic will post -1.92 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its position in shares of Synlogic by 5,743.1% during the first quarter. Bank of Montreal Can now owns 12,738 shares of the biotechnology company’s stock valued at $97,000 after buying an additional 12,520 shares during the last quarter. Parametric Portfolio Associates LLC purchased a new stake in shares of Synlogic during the second quarter valued at about $195,000. Charles Schwab Investment Management Inc. lifted its position in shares of Synlogic by 11.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 37,208 shares of the biotechnology company’s stock valued at $339,000 after buying an additional 3,708 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Synlogic by 12.1% during the fourth quarter. Bank of New York Mellon Corp now owns 56,774 shares of the biotechnology company’s stock valued at $398,000 after buying an additional 6,129 shares during the last quarter. Finally, Alps Advisors Inc. lifted its position in shares of Synlogic by 4.5% during the first quarter. Alps Advisors Inc. now owns 61,466 shares of the biotechnology company’s stock valued at $467,000 after buying an additional 2,658 shares during the last quarter. 66.08% of the stock is owned by institutional investors and hedge funds.

Synlogic Company Profile

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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