Synthetic Biologics Inc (SYN) Short Interest Down 7.4% in September
Synthetic Biologics Inc (NYSE:SYN) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 9,312,299 shares, a drop of 7.4% from the September 15th total of 10,051,188 shares. Currently, 12.5% of the company’s shares are sold short. Based on an average daily volume of 350,088 shares, the short-interest ratio is currently 26.6 days.
Shares of Synthetic Biologics (NYSE:SYN) opened at 1.59 on Wednesday. Synthetic Biologics has a 52 week low of $0.93 and a 52 week high of $3.09. The company has a 50 day moving average price of $1.69 and a 200 day moving average price of $1.90. The company’s market capitalization is $145.12 million.
Synthetic Biologics (NYSE:SYN) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. On average, equities research analysts expect that Synthetic Biologics will post ($0.39) earnings per share for the current year.
A number of large investors have recently bought and sold shares of SYN. Schwab Charles Investment Management Inc. purchased a new stake in Synthetic Biologics during the second quarter valued at approximately $213,000. KCG Holdings Inc. purchased a new stake in Synthetic Biologics during the second quarter valued at approximately $106,000. State Street Corp raised its stake in Synthetic Biologics by 1,530.4% in the second quarter. State Street Corp now owns 874,463 shares of the company’s stock valued at $1,573,000 after buying an additional 820,829 shares during the period. Rhumbline Advisers purchased a new stake in Synthetic Biologics during the second quarter valued at approximately $126,000. Finally, Teachers Advisors Inc. purchased a new stake in Synthetic Biologics during the second quarter valued at approximately $216,000.
Several research analysts have recently issued reports on SYN shares. Zacks Investment Research lowered Synthetic Biologics from a “buy” rating to a “hold” rating in a research report on Thursday, July 7th. FBR & Co reiterated a “buy” rating on shares of Synthetic Biologics in a report on Friday, August 5th. Griffin Securities set a $5.80 target price on Synthetic Biologics and gave the stock a “buy” rating in a report on Wednesday, August 31st. Finally, BTIG Research started coverage on Synthetic Biologics in a report on Thursday, August 25th. They set a “buy” rating and a $5.00 target price on the stock.
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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