Synlogic (NASDAQ:SYBX) Stock Passes Below 50-Day Moving Average – Here’s Why

Shares of Synlogic, Inc. (NASDAQ:SYBX) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.14 and traded as low as $0.61. Synlogic shares last traded at $0.6199, with a volume of 10,792 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Synlogic in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Synlogic presently has an average rating of “Sell”.

Synlogic Stock Performance

The business’s 50 day moving average price is $1.14 and its 200-day moving average price is $1.43. The firm has a market capitalization of $7.25 million, a PE ratio of -2.38 and a beta of 0.39.

Synlogic (NASDAQ:SYBX) last posted its earnings results on Thursday, November 13th. The biotechnology company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.08). As a group, analysts anticipate that Synlogic, Inc. will post -2.71 earnings per share for the current year.

Institutional Trading of Synlogic

An institutional investor recently bought a new position in Synlogic stock. Citadel Advisors LLC purchased a new stake in Synlogic, Inc. (NASDAQ:SYBX) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 29,011 shares of the biotechnology company’s stock, valued at approximately $49,000. Citadel Advisors LLC owned approximately 0.25% of Synlogic as of its most recent SEC filing. 63.40% of the stock is owned by institutional investors and hedge funds.

About Synlogic

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.