Synthetic Biologics (SYN) Downgraded by Zacks Investment Research
Zacks Investment Research downgraded shares of Synthetic Biologics (NYSEAMERICAN:SYN) from a buy rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “Synthetic Biologics, Inc. is a biotechnology company focused on the development of synthetic DNA-based therapeutics and innovative disease-modifying medicines for serious illnesses. The Company is engaged in developing product candidates to treat pulmonary arterial hypertension, relapses in multiple sclerosis, cognitive dysfunction in multiple sclerosis, fibromyalgia and amyotrophic lateral sclerosis. Synthetic Biologics, Inc., formerly known as Adeona Pharmaceuticals, Inc., is headquartered in Ann Arbor, Michigan. “
Shares of NYSEAMERICAN SYN opened at $0.23 on Wednesday. Synthetic Biologics has a 1 year low of $0.19 and a 1 year high of $1.05.
Hedge funds and other institutional investors have recently modified their holdings of the company. Citadel Advisors LLC grew its holdings in shares of Synthetic Biologics by 312.1% during the fourth quarter. Citadel Advisors LLC now owns 241,797 shares of the company’s stock valued at $122,000 after buying an additional 183,120 shares during the last quarter. Virtu Financial LLC grew its holdings in shares of Synthetic Biologics by 256.1% during the fourth quarter. Virtu Financial LLC now owns 299,577 shares of the company’s stock valued at $152,000 after buying an additional 215,440 shares during the last quarter. Finally, 683 Capital Management LLC acquired a new position in shares of Synthetic Biologics during the fourth quarter valued at about $762,000.
Synthetic Biologics Company Profile
Synthetic Biologics, Inc, a late-stage clinical company, develops therapeutics designed to preserve the microbiome to protect and restore the health of patients. Its lead product candidates are in Phase III development, such as SYN-004 that is designed to protect the gut microbiome from the effects of commonly used intravenous (IV) beta-lactam antibiotics for the prevention of C.
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