Brokerages Set Synlogic Inc (SYBX) Target Price at $19.40
Synlogic Inc (NASDAQ:SYBX) has received an average recommendation of “Buy” from the eight research firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $19.40.
Several research firms have commented on SYBX. Oppenheimer began coverage on shares of Synlogic in a research report on Friday, June 29th. They issued an “outperform” rating and a $18.00 target price for the company. reissued a “buy” rating and issued a $18.00 target price on shares of Synlogic in a research report on Tuesday, July 3rd. HC Wainwright set a $20.00 target price on shares of Synlogic and gave the stock a “buy” rating in a research report on Thursday, August 9th. Zacks Investment Research raised shares of Synlogic from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a research report on Tuesday, August 14th. Finally, Citigroup raised shares of Synlogic from a “neutral” rating to a “buy” rating in a research report on Friday, August 24th.
SYBX traded down $0.37 on Friday, reaching $9.74. 145,115 shares of the company traded hands, compared to its average volume of 137,510. Synlogic has a 52-week low of $7.27 and a 52-week high of $18.36. The company has a market capitalization of $361.37 million, a PE ratio of -1.66 and a beta of 1.69.
In other Synlogic news, insider Paul Francis Miller sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $13.05, for a total value of $39,150.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 12,000 shares of company stock valued at $139,110 over the last three months. Insiders own 23.30% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd bought a new stake in Synlogic in the first quarter worth approximately $120,000. DRW Securities LLC bought a new stake in Synlogic in the first quarter worth approximately $178,000. Element Capital Management LLC bought a new stake in Synlogic in the first quarter worth approximately $182,000. Northern Trust Corp bought a new stake in shares of Synlogic during the 1st quarter worth $249,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Synlogic during the 1st quarter worth $538,000. 79.39% of the stock is owned by institutional investors.
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, which is in Phase I clinical trial for the treatment of patients with liver disease and hepatic encephalopathy, and urea cycle disorders; and SYNB1618, an oral therapy that is in Phase I/IIa clinical trial to treat phenylketonuria.
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