Synlogic (NASDAQ:SYBX) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

Synlogic, Inc. (NASDAQ:SYBX) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.94 and traded as low as $0.6315. Synlogic shares last traded at $0.66, with a volume of 44,483 shares trading hands.

Synlogic Stock Performance

The company has a market cap of $7.72 million, a PE ratio of -2.54 and a beta of 0.52. The firm has a fifty day simple moving average of $0.63 and a 200 day simple moving average of $0.94.

Institutional Trading of Synlogic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DRW Securities LLC purchased a new stake in Synlogic in the 4th quarter valued at about $27,000. Renaissance Technologies LLC lifted its stake in shares of Synlogic by 116.7% in the 4th quarter. Renaissance Technologies LLC now owns 85,627 shares of the biotechnology company’s stock valued at $96,000 after purchasing an additional 46,117 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of Synlogic in the 3rd quarter valued at about $49,000. 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.