Synthetic Biologics Inc (NYSE:SYN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Synthetic Biologics, Inc. is a biotechnology company focused on the development of synthetic DNA-based therapeutics and innovative disease-modifying medicines for serious illnesses. The Company is engaged in developing product candidates to treat pulmonary arterial hypertension, relapses in multiple sclerosis, cognitive dysfunction in multiple sclerosis, fibromyalgia and amyotrophic lateral sclerosis. Synthetic Biologics, Inc., formerly known as Adeona Pharmaceuticals, Inc., is headquartered in Ann Arbor, Michigan. “

SYN has been the subject of several other research reports. BTIG Research assumed coverage on shares of Synthetic Biologics in a research note on Thursday, August 25th. They set a “buy” rating and a $5.00 price objective for the company. Griffin Securities set a $5.80 price objective on shares of Synthetic Biologics and gave the company a “buy” rating in a research note on Wednesday, August 31st. Finally, FBR & Co reaffirmed a “buy” rating on shares of Synthetic Biologics in a research note on Friday, August 5th.

Shares of Synthetic Biologics (NYSE:SYN) opened at 1.67 on Wednesday. The stock’s 50 day moving average is $1.69 and its 200 day moving average is $1.93. The company’s market cap is $152.42 million. Synthetic Biologics has a 1-year low of $0.93 and a 1-year high of $3.09.

Synthetic Biologics (NYSE:SYN) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. On average, analysts predict that Synthetic Biologics will post ($0.39) earnings per share for the current year.

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Synthetic Biologics by 10.5% in the second quarter. Vanguard Group Inc. now owns 2,761,194 shares of the company’s stock valued at $4,970,000 after buying an additional 262,551 shares during the period. BlackRock Fund Advisors boosted its stake in Synthetic Biologics by 1,271.8% in the second quarter. BlackRock Fund Advisors now owns 1,967,983 shares of the company’s stock valued at $3,542,000 after buying an additional 1,824,521 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Synthetic Biologics by 53.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,779,542 shares of the company’s stock valued at $3,203,000 after buying an additional 622,316 shares during the period. State Street Corp boosted its stake in Synthetic Biologics by 1,530.4% in the second quarter. State Street Corp now owns 874,463 shares of the company’s stock valued at $1,573,000 after buying an additional 820,829 shares during the period. Finally, BlackRock Investment Management LLC boosted its stake in Synthetic Biologics by 2,517.2% in the second quarter. BlackRock Investment Management LLC now owns 282,158 shares of the company’s stock valued at $508,000 after buying an additional 271,377 shares during the period.

About Synthetic Biologics

Synthetic Biologics, Inc is a clinical-stage company. The Company is engaged in developing therapeutics to protect the gut microbiome while targeting pathogen-specific diseases. The Company’s lead product candidates in Phase II development are SYN-010, which is intended to reduce the impact of methane-producing organisms in the gut microbiome to treat an underlying cause of irritable bowel syndrome with constipation (IBS-C), and SYN-004, which is designed to protect the gut microbiome (gastrointestinal (GI) microflora) from the effects of certain commonly used intravenous (IV) antibiotics for the prevention of C.

5 Day Chart for NYSE:SYN

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