Synlogic (NASDAQ:SYBX) Stock Crosses Above 50 Day Moving Average – Time to Sell?

Synlogic, Inc. (NASDAQ:SYBX)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $0.72 and traded as high as $1.20. Synlogic shares last traded at $1.15, with a volume of 485,293 shares.

Synlogic Price Performance

The firm’s 50 day moving average price is $0.73 and its 200-day moving average price is $0.68. The stock has a market cap of $14.70 million, a P/E ratio of -4.62 and a beta of 0.54.

Hedge Funds Weigh In On Synlogic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYBX. Renaissance Technologies LLC increased its holdings in shares of Synlogic by 116.7% in the 4th quarter. Renaissance Technologies LLC now owns 85,627 shares of the biotechnology company’s stock worth $96,000 after purchasing an additional 46,117 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of Synlogic in the third quarter worth $49,000. Finally, DRW Securities LLC bought a new position in shares of Synlogic during the fourth quarter valued at $27,000. 63.40% of the stock is owned by institutional investors.

Synlogic Company Profile

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.