Synlogic (NASDAQ:SYBX) Share Price Crosses Below 50-Day Moving Average – Here’s Why

Synlogic, Inc. (NASDAQ:SYBX) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $0.95 and traded as low as $0.6222. Synlogic shares last traded at $0.6222, with a volume of 320 shares changing hands.

Synlogic Trading Down 6.4%

The company has a market cap of $7.28 million, a price-to-earnings ratio of -2.39 and a beta of 0.54. The company’s 50 day moving average price is $0.95 and its 200 day moving average price is $1.36.

Synlogic (NASDAQ:SYBX) last issued its quarterly earnings results on Thursday, November 13th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.08). Sell-side analysts predict that Synlogic, Inc. will post -2.71 earnings per share for the current year.

Institutional Trading of Synlogic

Hedge funds have recently modified their holdings of the business. Citadel Advisors LLC purchased a new stake in shares of Synlogic in the third quarter valued at approximately $49,000. Renaissance Technologies LLC lifted its holdings in Synlogic by 116.7% in the fourth quarter. Renaissance Technologies LLC now owns 85,627 shares of the biotechnology company’s stock valued at $96,000 after acquiring an additional 46,117 shares during the period. Finally, DRW Securities LLC acquired a new stake in Synlogic in the fourth quarter valued at $27,000. 63.40% of the stock is owned by institutional investors and hedge funds.

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.