Synthetic Biologics Inc (NYSEAMERICAN:SYN) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 4,908,143 shares, an increase of 0.7% from the February 15th total of 4,874,425 shares. Approximately 7.6% of the company’s shares are sold short. Based on an average daily trading volume, of 681,983 shares, the short-interest ratio is currently 7.2 days.
Separately, Zacks Investment Research downgraded Synthetic Biologics from a “hold” rating to a “sell” rating in a report on Thursday, January 11th.
Several hedge funds have recently added to or reduced their stakes in SYN. Virtu Financial LLC increased its holdings in shares of Synthetic Biologics by 256.1% during the 4th quarter. Virtu Financial LLC now owns 299,577 shares of the company’s stock worth $152,000 after buying an additional 215,440 shares during the last quarter. Citadel Advisors LLC increased its holdings in shares of Synthetic Biologics by 312.1% during the 4th quarter. Citadel Advisors LLC now owns 241,797 shares of the company’s stock worth $122,000 after buying an additional 183,120 shares during the last quarter. Finally, 683 Capital Management LLC acquired a new stake in shares of Synthetic Biologics during the 4th quarter worth $762,000.
Synthetic Biologics (NYSEAMERICAN:SYN) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.07.
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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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