Synthetic Biologics, Inc. (NYSEAMERICAN:SYN)’s share price dropped 12% during trading on Wednesday . The company traded as low as $0.74 and last traded at $0.77. Approximately 14,846,098 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 66,683,813 shares. The stock had previously closed at $0.88.
Separately, Maxim Group downgraded Synthetic Biologics from a “buy” rating to a “hold” rating in a report on Friday, October 2nd.
The company’s 50-day simple moving average is $0.37 and its 200 day simple moving average is $0.38.
A hedge fund recently bought a new stake in Synthetic Biologics stock. Bridgeway Capital Management Inc. acquired a new stake in Synthetic Biologics, Inc. (NYSEAMERICAN:SYN) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 109,300 shares of the company’s stock, valued at approximately $56,000. Bridgeway Capital Management Inc. owned about 0.56% of Synthetic Biologics at the end of the most recent quarter.
About Synthetic Biologics (NYSEAMERICAN:SYN)
Synthetic Biologics, Inc, a clinical-stage company develops therapeutics to treat gastrointestinal diseases in the United States. Its lead product candidates include SYN-004 that has completed Phase II clinical trial designed to degrade commonly used intravenous beta-lactam antibiotics in gastrointestinal tract for the prevention of microbiome damage, clostridium difficile infection (CDI), overgrowth of pathogenic organisms, the emergence of antimicrobial resistance (AMR), and acute graft-versus-host-disease in allogeneic hematopoietic cell transplant recipients.
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