Synlogic (NASDAQ:SYBX) Stock Crosses Below Fifty Day Moving Average – Here’s Why

Shares of Synlogic, Inc. (NASDAQ:SYBX) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $0.95 and traded as low as $0.6222. Synlogic shares last traded at $0.6222, with a volume of 320 shares traded.

Synlogic Stock Performance

The firm’s 50 day moving average price is $0.94 and its two-hundred day moving average price is $1.36. The company has a market cap of $7.02 million, a P/E ratio of -2.31 and a beta of 0.54.

Synlogic (NASDAQ:SYBX) last posted its quarterly 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 forecast that Synlogic, Inc. will post -2.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Synlogic

Several hedge funds and other institutional investors have recently made changes to their positions in the business. DRW Securities LLC bought a new stake in Synlogic during the 4th quarter worth approximately $27,000. Renaissance Technologies LLC lifted its holdings in shares of Synlogic by 116.7% in the fourth quarter. Renaissance Technologies LLC now owns 85,627 shares of the biotechnology company’s stock valued at $96,000 after purchasing an additional 46,117 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of Synlogic during the third quarter valued at approximately $49,000. 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.