HC Wainwright Cuts Synlogic (NASDAQ:SYBX) Price Target to $7.00

Synlogic (NASDAQ:SYBX) had its price target reduced by HC Wainwright from $9.00 to $7.00 in a research report released on Wednesday, Price Targets.com reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock.

Several other research firms have also recently weighed in on SYBX. Chardan Capital assumed coverage on shares of Synlogic in a research note on Friday, July 9th. They issued a buy rating and a $10.00 target price for the company. Piper Sandler lifted their price objective on shares of Synlogic from $7.00 to $9.00 and gave the stock an overweight rating in a research report on Monday, September 20th. Finally, Zacks Investment Research raised shares of Synlogic from a hold rating to a buy rating and set a $3.25 price objective for the company in a research report on Thursday, August 12th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Synlogic presently has an average rating of Buy and a consensus target price of $9.83.

NASDAQ SYBX opened at $2.75 on Wednesday. Synlogic has a 12-month low of $1.78 and a 12-month high of $5.11. The company has a market capitalization of $144.03 million, a PE ratio of -1.98 and a beta of 1.87. The firm’s 50 day moving average is $2.93 and its 200-day moving average is $3.35.

Synlogic (NASDAQ:SYBX) last released its earnings results on Thursday, August 12th. The biotechnology company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.01. The firm had revenue of $0.25 million during the quarter, compared to the consensus estimate of $0.20 million. On average, sell-side analysts predict that Synlogic will post -1.24 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. Nan Fung Group Holdings Ltd bought a new position in Synlogic during the second quarter worth $267,000. Virtu Financial LLC bought a new stake in shares of Synlogic in the second quarter valued at about $219,000. Millennium Management LLC bought a new stake in shares of Synlogic in the second quarter valued at about $301,000. Bridgeway Capital Management LLC boosted its position in shares of Synlogic by 11.7% in the second quarter. Bridgeway Capital Management LLC now owns 253,000 shares of the biotechnology company’s stock valued at $984,000 after acquiring an additional 26,500 shares during the period. Finally, LMR Partners LLP bought a new stake in shares of Synlogic in the second quarter valued at about $1,167,000. 56.00% of the stock is owned by hedge funds and other institutional investors.

Synlogic Company Profile

Synlogic, Inc engages in the discovery and development of Synthetic Biotic medicines. It focuses in Phenylketonuria, Enteric Hyperoxaluria, Immuno Oncology solid tumors, inflammatory bowel disease, and vaccines and other inflammatory programs. The company was founded by Jim Collins and Tim Lu on August 28, 2017, and is headquartered in Cambridge, MA.

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Analyst Recommendations for Synlogic (NASDAQ:SYBX)

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