Synthetic Biologics Inc (NYSE:SYN) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 9,312,299 shares, a drop of 7.4% from the September 15th total of 10,051,188 shares. Based on an average daily volume of 350,088 shares, the days-to-cover ratio is presently 26.6 days. Currently, 12.5% of the company’s stock are short sold.
A number of equities research analysts have recently commented on the company. BTIG Research assumed coverage on Synthetic Biologics in a research report on Thursday, August 25th. They set a “buy” rating and a $5.00 price target on the stock. Zacks Investment Research upgraded Synthetic Biologics from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a report on Tuesday, August 9th. Griffin Securities set a $5.80 price objective on Synthetic Biologics and gave the stock a “buy” rating in a report on Wednesday, August 31st. Finally, FBR & Co reiterated a “buy” rating on shares of Synthetic Biologics in a report on Friday, August 5th.
Several large investors have recently added to or reduced their stakes in SYN. Vanguard Group Inc. raised its stake in Synthetic Biologics by 10.5% in the second quarter. Vanguard Group Inc. now owns 2,761,194 shares of the company’s stock worth $4,970,000 after buying an additional 262,551 shares during the period. BlackRock Fund Advisors raised its stake in Synthetic Biologics by 1,271.8% in the second quarter. BlackRock Fund Advisors now owns 1,967,983 shares of the company’s stock worth $3,542,000 after buying an additional 1,824,521 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Synthetic Biologics by 53.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,779,542 shares of the company’s stock worth $3,203,000 after buying an additional 622,316 shares during the period. State Street Corp raised its stake in Synthetic Biologics by 1,530.4% in the second quarter. State Street Corp now owns 874,463 shares of the company’s stock worth $1,573,000 after buying an additional 820,829 shares during the period. Finally, BlackRock Investment Management LLC raised its stake in Synthetic Biologics by 2,517.2% in the second quarter. BlackRock Investment Management LLC now owns 282,158 shares of the company’s stock worth $508,000 after buying an additional 271,377 shares during the period.
Synthetic Biologics (NYSE:SYN) opened at 1.58 on Friday. The company’s 50 day moving average price is $1.69 and its 200-day moving average price is $1.92. Synthetic Biologics has a 12-month low of $0.93 and a 12-month high of $3.09. The company’s market capitalization is $144.21 million.
Synthetic Biologics (NYSE:SYN) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Equities analysts forecast that Synthetic Biologics will post ($0.39) earnings per share for the current fiscal year.
About Synthetic Biologics
Synthetic Biologics, Inc is a clinical-stage company. The Company is engaged in developing therapeutics to protect the gut microbiome while targeting pathogen-specific diseases. The Company’s lead product candidates in Phase II development are SYN-010, which is intended to reduce the impact of methane-producing organisms in the gut microbiome to treat an underlying cause of irritable bowel syndrome with constipation (IBS-C), and SYN-004, which is designed to protect the gut microbiome (gastrointestinal (GI) microflora) from the effects of certain commonly used intravenous (IV) antibiotics for the prevention of C.
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