Synlogic Inc (NASDAQ:SYBX) Short Interest Up 7.2% in July

Synlogic Inc (NASDAQ:SYBX) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 353,100 shares, an increase of 7.2% from the June 30th total of 329,400 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average daily volume of 338,600 shares, the short-interest ratio is currently 1.0 days.

Shares of Synlogic stock opened at $2.26 on Friday. The stock has a market cap of $74.22 million, a P/E ratio of -1.35 and a beta of 2.21. The stock’s 50 day simple moving average is $2.11 and its 200-day simple moving average is $2.21. Synlogic has a 1-year low of $1.35 and a 1-year high of $5.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 18.68 and a quick ratio of 18.69.

Synlogic (NASDAQ:SYBX) last announced its quarterly earnings data on Friday, May 8th. The biotechnology company reported ($0.46) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.03). Synlogic had a negative return on equity of 33.46% and a negative net margin of 2,733.25%. The company had revenue of $0.10 million for the quarter, compared to analysts’ expectations of $0.73 million. As a group, research analysts expect that Synlogic will post -1.85 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in Synlogic by 4.7% in the 1st quarter. JPMorgan Chase & Co. now owns 370,699 shares of the biotechnology company’s stock valued at $638,000 after purchasing an additional 16,582 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Synlogic by 54.9% in the first quarter. Two Sigma Advisers LP now owns 323,500 shares of the biotechnology company’s stock valued at $556,000 after acquiring an additional 114,600 shares during the last quarter. State Street Corp grew its position in Synlogic by 2.4% in the first quarter. State Street Corp now owns 302,915 shares of the biotechnology company’s stock worth $521,000 after acquiring an additional 7,162 shares during the period. Renaissance Technologies LLC grew its position in Synlogic by 96.0% in the fourth quarter. Renaissance Technologies LLC now owns 301,272 shares of the biotechnology company’s stock worth $777,000 after acquiring an additional 147,600 shares during the period. Finally, Geode Capital Management LLC increased its stake in Synlogic by 12.3% during the first quarter. Geode Capital Management LLC now owns 281,429 shares of the biotechnology company’s stock worth $484,000 after acquiring an additional 30,872 shares during the last quarter. 49.62% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently issued reports on SYBX shares. Zacks Investment Research cut Synlogic from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Oppenheimer reaffirmed a “hold” rating on shares of Synlogic in a research note on Sunday, May 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $13.00 price target on shares of Synlogic in a research report on Friday, May 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $8.95.

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.

Read More: Pattern Day Trader – What is the PDT Rule?

Receive News & Ratings for Synlogic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synlogic and related companies with MarketBeat.com's FREE daily email newsletter.