Synlogic (NASDAQ:SYBX) Shares Cross Below Fifty Day Moving Average – Time to Sell?

Synlogic, Inc. (NASDAQ:SYBX) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $1.14 and traded as low as $0.61. Synlogic shares last traded at $0.6199, with a volume of 10,792 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Synlogic in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Synlogic has a consensus rating of “Sell”.

Synlogic Stock Up 3.3%

The stock has a 50-day moving average of $1.14 and a 200 day moving average of $1.43. The stock has a market cap of $7.25 million, a PE ratio of -2.38 and a beta of 0.39.

Synlogic (NASDAQ:SYBX) last issued its earnings results on Thursday, November 13th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.08). Research analysts forecast that Synlogic, Inc. will post -2.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Synlogic

A hedge fund recently bought a new stake in Synlogic stock. Citadel Advisors LLC purchased a new stake in Synlogic, Inc. (NASDAQ:SYBX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 29,011 shares of the biotechnology company’s stock, valued at approximately $49,000. Citadel Advisors LLC owned 0.25% of Synlogic at the end of the most recent reporting period. Institutional investors and hedge funds 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.