Zacks Investment Research Downgrades Synthetic Biologics (SYN) to Hold
Synthetic Biologics (NYSEAMERICAN:SYN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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. “
Shares of Synthetic Biologics (NYSEAMERICAN SYN) traded down $0.01 during trading hours on Tuesday, hitting $0.36. 216,345 shares of the stock traded hands, compared to its average volume of 899,564. Synthetic Biologics has a 12 month low of $0.28 and a 12 month high of $1.05. The firm has a market cap of $49.23, a PE ratio of -2.06 and a beta of 1.30.
Several large investors have recently modified their holdings of SYN. 683 Capital Management LLC bought a new position in Synthetic Biologics during the 4th quarter worth approximately $762,000. Virtu Financial LLC boosted its stake in Synthetic Biologics by 256.1% during the 4th quarter. Virtu Financial LLC now owns 299,577 shares of the company’s stock worth $152,000 after acquiring an additional 215,440 shares during the last quarter. Finally, Citadel Advisors LLC boosted its stake in Synthetic Biologics by 312.1% during the 4th quarter. Citadel Advisors LLC now owns 241,797 shares of the company’s stock worth $122,000 after acquiring an additional 183,120 shares during the last quarter.
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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.
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