Citigroup Boosts Synlogic (SYBX) Price Target to $26.00
Synlogic (NASDAQ:SYBX) had its target price boosted by Citigroup to $26.00 in a research note issued to investors on Wednesday morning, The Fly reports. Citigroup currently has a buy rating on the biotechnology company’s stock.
A number of other brokerages also recently issued reports on SYBX. restated a buy rating and set a $18.00 price objective on shares of Synlogic in a research report on Tuesday, July 3rd. Oppenheimer initiated coverage on Synlogic in a research report on Friday, June 29th. They set an outperform rating and a $18.00 price objective for the company. Zacks Investment Research downgraded Synlogic from a buy rating to a hold rating in a research report on Wednesday, August 15th. ValuEngine upgraded Synlogic from a sell rating to a hold rating in a research report on Saturday, June 2nd. Finally, HC Wainwright restated a buy rating and set a $20.00 price objective on shares of Synlogic in a research report on Monday, June 11th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $18.81.
Synlogic stock opened at $12.97 on Wednesday. The stock has a market capitalization of $330.35 million, a price-to-earnings ratio of -2.21 and a beta of 1.83. Synlogic has a 12 month low of $7.27 and a 12 month high of $23.00.
In related news, insider Paul Francis Miller sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $12.55, for a total transaction of $37,650.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 12,000 shares of company stock valued at $129,270 in the last ninety days. 23.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Synlogic during the first quarter worth approximately $120,000. Spark Investment Management LLC grew its stake in Synlogic by 72.5% during the first quarter. Spark Investment Management LLC now owns 18,800 shares of the biotechnology company’s stock worth $176,000 after purchasing an additional 7,900 shares during the period. DRW Securities LLC acquired a new stake in Synlogic during the first quarter worth approximately $178,000. Element Capital Management LLC acquired a new stake in Synlogic during the first quarter worth approximately $182,000. Finally, Deutsche Bank AG grew its stake in Synlogic by 204.0% during the fourth quarter. Deutsche Bank AG now owns 19,672 shares of the biotechnology company’s stock worth $190,000 after purchasing an additional 13,200 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Synlogic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synlogic and related companies with MarketBeat.com's FREE daily email newsletter.