Investors Purchase High Volume of Call Options on Synlogic (NASDAQ:SYBX)

Synlogic, Inc. (NASDAQ:SYBX) was the recipient of some unusual options trading on Wednesday. Traders acquired 3,296 call options on the company. This is an increase of 1,014% compared to the typical daily volume of 296 call options.

SYBX stock opened at $3.18 on Thursday. The business’s 50-day moving average price is $2.30 and its 200-day moving average price is $2.16. Synlogic has a twelve month low of $1.35 and a twelve month high of $3.99. The stock has a market cap of $110.77 million, a P/E ratio of -1.92 and a beta of 2.12.

Synlogic (NASDAQ:SYBX) last posted its quarterly earnings results on Thursday, November 5th. The biotechnology company reported ($0.36) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.47) by $0.11. Synlogic had a negative return on equity of 38.34% and a negative net margin of 2,761.83%. As a group, equities analysts forecast that Synlogic will post -1.84 earnings per share for the current year.

A number of research analysts have recently weighed in on the company. Chardan Capital lifted their price objective on Synlogic from $5.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday. Zacks Investment Research raised Synlogic from a “hold” rating to a “buy” rating and set a $2.50 price objective on the stock in a research report on Friday, December 18th.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Synlogic in the 3rd quarter worth approximately $40,000. Acadian Asset Management LLC purchased a new position in Synlogic in the 3rd quarter worth approximately $45,000. Goldman Sachs Group Inc. purchased a new position in Synlogic in the 2nd quarter worth approximately $113,000. Verition Fund Management LLC purchased a new position in Synlogic in the 2nd quarter worth approximately $154,000. Finally, Jane Street Group LLC purchased a new position in Synlogic in the 2nd quarter worth approximately $157,000. 44.18% of the stock is currently owned by institutional investors.

About Synlogic

Synlogic, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of synthetic biotic medicines to treat metabolic, inflammatory, and cancer diseases in the United States. Its therapeutic programs include SYNB1618, an oral therapy that is in Phase I/IIa clinical trial to treat phenylketonuria.

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