Synlogic (NASDAQ:SYBX) Share Price Passes Above Fifty Day Moving Average – Should You Sell?

Synlogic, Inc. (NASDAQ:SYBX)’s stock price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $0.72 and traded as high as $1.20. Synlogic shares last traded at $1.15, with a volume of 485,293 shares trading hands.

Synlogic Trading Up 2.7%

The stock has a market capitalization of $13.45 million, a PE ratio of -4.42 and a beta of 0.54. The stock’s fifty day simple moving average is $0.72 and its 200-day simple moving average is $0.68.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DRW Securities LLC purchased a new stake in Synlogic in the 4th quarter valued at about $27,000. Renaissance Technologies LLC lifted its position in shares of Synlogic by 116.7% during the 4th 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 in the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of Synlogic in the 3rd quarter worth approximately $49,000. 63.40% of the stock is currently owned by hedge funds and other institutional investors.

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.