Synlogic (NASDAQ:SYBX) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Synlogic (NASDAQ:SYBX) from a hold rating to a buy rating in a research note released on Friday morning, Zacks.com reports. The firm currently has $2.75 price objective on the biotechnology company’s stock.

According to Zacks, “Synlogic, Inc. engaged in the development of a novel class of living Synthetic Biotic(TM) medicines based on its proprietary drug discovery and development platform. The company’s pipeline includes Synthetic Biotic medicines for the treatment of rare genetic diseases such as Urea Cycle Disorder and Phenylketonuria. In addition, the company is leveraging the broad potential of its platform to create Synthetic Biotic medicines for the treatment of other diseases, such as liver disease, inflammatory and immune disorders and cancer. It is collaborating with AbbVie to develop Synthetic Biotic-based treatments for inflammatory bowel disease. Synlogic Inc., formerly known as Mirna Therapeutics Inc., is based in Cambridge, Massachusetts. “

SYBX has been the subject of several other reports. HC Wainwright restated a buy rating and set a $13.00 price target on shares of Synlogic in a research report on Monday, March 23rd. Oppenheimer restated a hold rating on shares of Synlogic in a report on Sunday, May 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $11.63.

NASDAQ SYBX traded up $0.08 during trading hours on Friday, reaching $2.32. The company had a trading volume of 353,562 shares, compared to its average volume of 349,260. The company has a current ratio of 18.68, a quick ratio of 18.69 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $73.56 million, a P/E ratio of -1.39 and a beta of 2.17. The stock has a 50-day moving average of $2.04 and a 200 day moving average of $2.26. Synlogic has a 1-year low of $1.35 and a 1-year high of $10.01.

Synlogic (NASDAQ:SYBX) last issued its quarterly earnings data on Friday, May 8th. The biotechnology company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.03). Synlogic had a negative return on equity of 33.46% and a negative net margin of 2,733.25%. The company had revenue of $0.10 million during the quarter, compared to analyst estimates of $0.73 million. As a group, sell-side analysts predict that Synlogic will post -1.84 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in SYBX. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Synlogic during the fourth quarter worth approximately $37,000. Virtu Financial LLC acquired a new position in Synlogic during the 4th quarter worth approximately $48,000. UBS Group AG increased its position in shares of Synlogic by 67.2% in the 4th quarter. UBS Group AG now owns 21,828 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 8,770 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Synlogic by 288.3% in the 1st quarter. Wells Fargo & Company MN now owns 26,945 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 20,005 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Synlogic by 42.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 31,856 shares of the biotechnology company’s stock worth $82,000 after purchasing an additional 9,553 shares during the last quarter. Hedge funds and other institutional investors own 50.53% 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 for the treatment of hyperammonemia, which includes patients with liver diseases, such as hepatic encephalopathy, as well as patients with urea cycle disorders; and SYNB1618, an oral therapy that is in Phase I/IIa clinical trial to treat phenylketonuria.

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