Synlogic (NASDAQ:SYBX) Stock Passes Below Fifty Day Moving Average – Time to Sell?

Synlogic, Inc. (NASDAQ:SYBX)’s stock price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $0.66 and traded as low as $0.6001. Synlogic shares last traded at $0.70, with a volume of 10,121 shares trading hands.

Synlogic Stock Down 5.4%

The company has a market capitalization of $8.19 million, a price-to-earnings ratio of -2.69 and a beta of 0.56. The company has a 50-day moving average price of $0.66 and a 200-day moving average price of $0.78.

Institutional Investors Weigh In On Synlogic

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC grew its position in shares of 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 purchasing an additional 46,117 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Synlogic in the third quarter valued at about $49,000. Finally, DRW Securities LLC acquired a new stake in shares of Synlogic in the fourth quarter valued at about $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.