Synlogic (NASDAQ:SYBX) Shares Cross Above 50 Day Moving Average – Here’s Why

Synlogic, Inc. (NASDAQ:SYBX)’s share price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $0.69 and traded as high as $0.7230. Synlogic shares last traded at $0.7110, with a volume of 70,770 shares traded.

Synlogic Trading Down 0.4%

The firm has a market capitalization of $8.32 million, a price-to-earnings ratio of -2.73 and a beta of 0.54. The firm has a 50 day moving average price of $0.69 and a two-hundred day moving average price of $0.71.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its stake in Synlogic by 116.7% during the fourth quarter. Renaissance Technologies LLC now owns 85,627 shares of the biotechnology company’s stock worth $96,000 after buying an additional 46,117 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Synlogic in the third quarter worth $49,000. Finally, DRW Securities LLC acquired a new stake in shares of Synlogic in the fourth quarter worth $27,000. 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.