Legal & General Group Plc Takes $33,000 Position in Synlogic Inc (SYBX)

Legal & General Group Plc bought a new position in Synlogic Inc (NASDAQ:SYBX) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 2,290 shares of the biotechnology company’s stock, valued at approximately $33,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. American International Group Inc. purchased a new stake in Synlogic in the third quarter worth about $145,000. Rhumbline Advisers purchased a new stake in Synlogic in the third quarter worth about $212,000. TIAA CREF Investment Management LLC purchased a new stake in Synlogic in the third quarter worth about $251,000. Teachers Advisors LLC purchased a new stake in Synlogic in the third quarter worth about $290,000. Finally, Wells Fargo & Company MN purchased a new stake in Synlogic in the third quarter worth about $351,000. 81.20% of the stock is currently owned by institutional investors.

SYBX has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Synlogic from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a report on Saturday, November 17th. ValuEngine lowered shares of Synlogic from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Oppenheimer set a $18.00 price objective on shares of Synlogic and gave the stock a “buy” rating in a report on Monday, November 12th. Chardan Capital initiated coverage on shares of Synlogic in a report on Thursday, December 13th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, HC Wainwright set a $20.00 price objective on shares of Synlogic and gave the stock a “buy” rating in a report on Monday, December 10th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $18.11.

SYBX stock opened at $8.91 on Tuesday. Synlogic Inc has a 52-week low of $5.75 and a 52-week high of $14.59. The company has a market cap of $210.45 million, a PE ratio of -1.52 and a beta of 2.36.

Synlogic (NASDAQ:SYBX) last released its earnings results on Tuesday, November 13th. The biotechnology company reported ($0.43) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.64) by $0.21. Synlogic had a negative net margin of 1,912.74% and a negative return on equity of 39.07%. The firm had revenue of $1.80 million during the quarter, compared to analyst estimates of $0.20 million. As a group, sell-side analysts predict that Synlogic Inc will post -2.13 EPS for the current fiscal year.

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About Synlogic

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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Institutional Ownership by Quarter for Synlogic (NASDAQ:SYBX)

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