Synlogic (NASDAQ:SYBX) Stock Passes Above 50 Day Moving Average – Time to Sell?

Synlogic, Inc. (NASDAQ:SYBX) shares crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $0.78 and traded as high as $1.23. Synlogic shares last traded at $1.23, with a volume of 55,117 shares trading hands.

Synlogic Price Performance

The business has a 50 day moving average of $0.78 and a 200 day moving average of $0.69. The firm has a market capitalization of $15.07 million, a price-to-earnings ratio of -4.73 and a beta of 0.48.

Institutional Investors Weigh In On Synlogic

Several institutional investors and hedge funds have recently made changes to their positions in the company. DRW Securities LLC acquired a new position in shares of Synlogic in the 4th quarter worth approximately $27,000. Citadel Advisors LLC acquired a new stake in Synlogic in the third quarter worth about $49,000. Finally, Renaissance Technologies LLC raised its stake in shares of 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 last quarter. Institutional investors and hedge funds own 63.40% of the company’s stock.

About Synlogic

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.