Synlogic (NASDAQ:SYBX) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Synlogic, Inc. (NASDAQ:SYBX)’s stock price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $0.63 and traded as high as $0.6450. Synlogic shares last traded at $0.6450, with a volume of 3,949 shares.

Synlogic Price Performance

The firm has a market cap of $7.55 million, a PE ratio of -2.48 and a beta of 0.52. The business’s fifty day moving average is $0.63 and its 200-day moving average is $0.98.

Institutional Investors Weigh In On Synlogic

Several large investors have recently modified their holdings of the stock. DRW Securities LLC purchased a new stake in shares of Synlogic during the 4th quarter worth approximately $27,000. Citadel Advisors LLC purchased a new stake in shares of Synlogic during the 3rd quarter worth approximately $49,000. Finally, Renaissance Technologies LLC increased its stake in shares of Synlogic by 116.7% during the 4th quarter. Renaissance Technologies LLC now owns 85,627 shares of the biotechnology company’s stock worth $96,000 after purchasing an additional 46,117 shares during the last quarter. Hedge funds and other institutional investors own 63.40% of the company’s stock.

Synlogic Company Profile

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.