Analysts predict that Synlogic Inc (NASDAQ:SYBX) will report $200,000.00 in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Synlogic’s earnings, with the lowest sales estimate coming in at $110,000.00 and the highest estimate coming in at $300,000.00. Synlogic reported sales of $110,000.00 in the same quarter last year, which would suggest a positive year over year growth rate of 81.8%. The company is scheduled to report its next quarterly earnings results on Monday, November 12th.
According to Zacks, analysts expect that Synlogic will report full year sales of $1.01 million for the current fiscal year, with estimates ranging from $830,000.00 to $1.31 million. For the next financial year, analysts forecast that the firm will post sales of $970,000.00, with estimates ranging from $440,000.00 to $2.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Synlogic.
Synlogic (NASDAQ:SYBX) last announced its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.06). Synlogic had a negative net margin of 5,949.04% and a negative return on equity of 43.51%. The business had revenue of $0.25 million during the quarter, compared to analysts’ expectations of $0.22 million.
SYBX has been the topic of several recent research reports. Citigroup raised shares of Synlogic from a “neutral” rating to a “buy” rating in a report on Friday, August 24th. Zacks Investment Research downgraded shares of Synlogic from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. HC Wainwright set a $20.00 price target on shares of Synlogic and gave the company a “buy” rating in a report on Thursday, August 9th. reaffirmed a “buy” rating and issued a $18.00 price target on shares of Synlogic in a report on Tuesday, July 3rd. Finally, Oppenheimer initiated coverage on shares of Synlogic in a report on Friday, June 29th. They issued an “outperform” rating and a $18.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $17.93.
Shares of NASDAQ SYBX traded down $0.91 on Thursday, hitting $12.53. The company’s stock had a trading volume of 132,139 shares, compared to its average volume of 138,144. Synlogic has a 12-month low of $7.27 and a 12-month high of $18.36. The company has a market capitalization of $361.37 million, a PE ratio of -2.13 and a beta of 1.69.
In other news, insider Paul Francis Miller sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $9.76, for a total value of $29,280.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 12,000 shares of company stock valued at $139,110. Company insiders own 23.30% of the company’s stock.
Several large investors have recently bought and sold shares of SYBX. Farallon Capital Management LLC acquired a new position in shares of Synlogic in the first quarter valued at approximately $9,146,000. Sofinnova Ventures Inc acquired a new position in shares of Synlogic in the first quarter valued at approximately $5,393,000. Northern Trust Corp raised its position in shares of Synlogic by 473.8% in the second quarter. Northern Trust Corp now owns 152,491 shares of the biotechnology company’s stock valued at $1,499,000 after buying an additional 125,916 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Synlogic in the first quarter valued at approximately $538,000. Finally, Element Capital Management LLC acquired a new position in shares of Synlogic in the first quarter valued at approximately $182,000. 79.39% of the stock is owned by institutional investors and hedge funds.
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 lead therapeutic programs include SYNB1020, an oral therapy, which is in Phase I clinical trial for the treatment of patients with liver disease and hepatic encephalopathy, and urea cycle disorders; and SYNB1618, an oral therapy that is in Phase I/IIa clinical trial to treat phenylketonuria.
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