Short Interest in Synlogic, Inc. (NASDAQ:SYBX) Increases By 22.0%

Synlogic, Inc. (NASDAQ:SYBX) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totalling 11,100 shares, an increase of 22.0% from the June 30th total of 9,100 shares. Based on an average daily trading volume, of 21,400 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.2% of the company’s shares are short sold.

Synlogic Stock Down 0.6 %

NASDAQ:SYBX traded down $0.01 during trading hours on Friday, hitting $1.67. 1,895 shares of the stock were exchanged, compared to its average volume of 15,660. The company’s 50 day moving average is $1.57 and its two-hundred day moving average is $1.98. Synlogic has a twelve month low of $1.35 and a twelve month high of $8.85. The company has a market capitalization of $19.56 million, a P/E ratio of -0.17 and a beta of 0.92.

Synlogic (NASDAQ:SYBX) last posted its quarterly earnings data on Tuesday, May 14th. The biotechnology company reported ($2.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($1.80). Synlogic had a negative return on equity of 189.99% and a negative net margin of 2,284.65%. The firm had revenue of $0.01 million for the quarter. On average, equities research analysts expect that Synlogic will post -2.48 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Synlogic stock. Armistice Capital LLC grew its stake in Synlogic, Inc. (NASDAQ:SYBX) by 75.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,055,000 shares of the biotechnology company’s stock after purchasing an additional 455,126 shares during the quarter. Armistice Capital LLC owned about 11.48% of Synlogic worth $4,062,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 63.40% of the company’s stock.

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.