Synlogic, Inc. (NASDAQ:SYBX) Sees Large Drop in Short Interest

Synlogic, Inc. (NASDAQ:SYBX) saw a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 7,729 shares, a decrease of 25.7% from the December 31st total of 10,406 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average trading volume of 14,860 shares, the days-to-cover ratio is presently 0.5 days. Based on an average trading volume of 14,860 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.1% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Synlogic in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Hedge Funds Weigh In On Synlogic

A hedge fund recently bought a new stake in Synlogic stock. Citadel Advisors LLC bought a new stake in shares of Synlogic, Inc. (NASDAQ:SYBX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 29,011 shares of the biotechnology company’s stock, valued at approximately $49,000. Citadel Advisors LLC owned approximately 0.25% of Synlogic at the end of the most recent quarter. 63.40% of the stock is owned by institutional investors and hedge funds.

Synlogic Price Performance

NASDAQ:SYBX opened at $0.63 on Monday. The firm’s fifty day simple moving average is $1.10 and its 200 day simple moving average is $1.42. The stock has a market cap of $7.37 million, a P/E ratio of -2.42 and a beta of 0.39. Synlogic has a twelve month low of $0.54 and a twelve month high of $1.96.

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

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.