“Synlogic is a pioneer in the field of synthetic biology, the crossroads between biology and engineering in which complex new functionality can be built into living organisms. The company’s technology platform centers on the use of commensal bacteria that have been genetically redesigned to serve as living therapeutics. Synlogic’s two lead products, SYNB1020 and SYNB1618, aim to prevent toxic buildup of waste products in patients with metabolic deficiencies and could deliver value-inflective clinical proof- of-concept data within the next 12 months. We see Synlogic as a true innovator in biotech, and its synthetic biotic platform could be a glimpse into the future of gene therapy. We initiate coverage at $18 PT.”,” the firm’s analyst wrote.
Other analysts have also issued research reports about the company. HC Wainwright restated a buy rating and issued a $20.00 target price on shares of Synlogic in a report on Tuesday, April 17th. Piper Jaffray Companies restated a buy rating and issued a $15.00 target price on shares of Synlogic in a report on Monday, April 9th. Zacks Investment Research upgraded Synlogic from a hold rating to a buy rating and set a $11.00 target price for the company in a report on Saturday, May 19th. ValuEngine upgraded Synlogic from a sell rating to a hold rating in a report on Saturday, June 2nd. Finally, Oppenheimer initiated coverage on Synlogic in a report on Friday, June 29th. They issued an outperform rating and a $18.00 target price for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $18.14.
Synlogic (NASDAQ:SYBX) last released its quarterly earnings data on Tuesday, May 15th. The biotechnology company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.18. The company had revenue of $0.35 million for the quarter, compared to the consensus estimate of $0.21 million. research analysts anticipate that Synlogic will post -2.23 earnings per share for the current year.
In other news, insider Paul Francis Miller sold 3,000 shares of the stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $9.77, for a total value of $29,310.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 23.30% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Spark Investment Management LLC raised its holdings in shares of Synlogic by 72.5% during the first quarter. Spark Investment Management LLC now owns 18,800 shares of the biotechnology company’s stock worth $176,000 after acquiring an additional 7,900 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Synlogic during the first quarter worth $120,000. Deutsche Bank AG raised its holdings in shares of Synlogic by 204.0% during the fourth quarter. Deutsche Bank AG now owns 19,672 shares of the biotechnology company’s stock worth $190,000 after acquiring an additional 13,200 shares in the last quarter. DRW Securities LLC purchased a new stake in shares of Synlogic during the first quarter worth $178,000. Finally, Element Capital Management LLC purchased a new stake in shares of Synlogic during the first quarter worth $182,000. Institutional investors and hedge funds own 63.54% of the company’s stock.
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, 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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