Stock Traders Buy Large Volume of Synlogic Call Options (NASDAQ:SYBX)


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Synlogic, Inc. (NASDAQ:SYBX) was the recipient of unusually large options trading on Wednesday. Traders bought 3,296 call options on the stock. This represents an increase of 1,014% compared to the average daily volume of 296 call options.

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Synlogic in the 3rd quarter worth approximately $40,000. Acadian Asset Management LLC purchased a new stake in Synlogic during the 3rd quarter valued at approximately $45,000. Goldman Sachs Group Inc. bought a new stake in shares of Synlogic during the second quarter valued at approximately $113,000. Verition Fund Management LLC purchased a new position in shares of Synlogic in the second quarter worth $154,000. Finally, Jane Street Group LLC bought a new position in shares of Synlogic during the second quarter worth $157,000. 44.18% of the stock is currently owned by institutional investors.

SYBX has been the topic of a number of recent research reports. Chardan Capital raised their target price on Synlogic from $5.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday. Zacks Investment Research raised Synlogic from a “hold” rating to a “buy” rating and set a $2.50 price objective on the stock in a research report on Friday, December 18th.

Shares of NASDAQ SYBX traded up $0.78 during midday trading on Wednesday, reaching $3.18. The stock had a trading volume of 36,910,013 shares, compared to its average volume of 462,023. The company has a market capitalization of $110.77 million, a price-to-earnings ratio of -1.85 and a beta of 2.12. Synlogic has a 12-month low of $1.35 and a 12-month high of $3.99. The stock has a 50-day moving average of $2.30 and a 200-day moving average of $2.16.

Synlogic (NASDAQ:SYBX) last issued its earnings results on Thursday, November 5th. The biotechnology company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.11. Synlogic had a negative net margin of 2,761.83% and a negative return on equity of 38.34%. Sell-side analysts predict that Synlogic will post -1.84 earnings per share for the current fiscal year.

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 therapeutic programs include SYNB1618, an oral therapy that is in Phase I/IIa clinical trial to treat phenylketonuria.

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