Synlogic Inc (NASDAQ:SYBX) – Research analysts at Piper Jaffray Companies reduced their Q4 2018 earnings per share (EPS) estimates for Synlogic in a report released on Wednesday, August 8th. Piper Jaffray Companies analyst E. Tenthoff now forecasts that the biotechnology company will post earnings per share of ($0.65) for the quarter, down from their prior estimate of ($0.64). Piper Jaffray Companies also issued estimates for Synlogic’s Q1 2019 earnings at ($0.66) EPS, Q2 2019 earnings at ($0.72) EPS, Q3 2019 earnings at ($0.75) EPS, Q4 2019 earnings at ($0.80) EPS and FY2019 earnings at ($2.93) EPS.
SYBX has been the topic of a number of other reports. HC Wainwright set a $20.00 price objective on shares of Synlogic and gave the stock a “buy” rating in a research report on Friday, May 11th. Zacks Investment Research upgraded shares of Synlogic from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Saturday, May 19th. ValuEngine upgraded shares of Synlogic from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Oppenheimer began coverage on shares of Synlogic in a research note on Friday, June 29th. They issued an “outperform” rating and a $18.00 target price on the stock. Finally, restated a “buy” rating and issued a $18.00 target price on shares of Synlogic in a research note on Tuesday, July 3rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Synlogic currently has an average rating of “Buy” and an average target price of $18.14.
Synlogic (NASDAQ:SYBX) last posted its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.59) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.06). Synlogic had a negative return on equity of 47.88% and a negative net margin of 5,949.04%. The firm had revenue of $0.25 million during the quarter, compared to analysts’ expectations of $0.22 million.
In other Synlogic news, insider Paul Francis Miller sold 3,000 shares of the company’s stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $9.77, for a total value of $29,310.00. The sale was disclosed in a filing with the SEC, which is available through this link. 23.30% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. NEA Management Company LLC grew its stake in Synlogic by 10.7% in the 1st quarter. NEA Management Company LLC now owns 4,229,410 shares of the biotechnology company’s stock worth $39,672,000 after acquiring an additional 410,000 shares in the last quarter. Farallon Capital Management LLC bought a new position in Synlogic in the 1st quarter worth about $9,146,000. Sofinnova Ventures Inc bought a new position in Synlogic in the 1st quarter worth about $5,393,000. Texas Treasury Safekeeping Trust Co. bought a new position in Synlogic in the 1st quarter worth about $975,000. Finally, Dimensional Fund Advisors LP bought a new position in Synlogic in the 1st quarter worth about $538,000. Institutional investors and hedge funds own 63.82% of the company’s stock.
Synlogic Company Profile
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 lead therapeutic programs include SYNB1020, an oral therapy, which is in Phase I clinical trial for the treatment of patients with liver disease and hepatic encephalopathy, and urea cycle disorders; and SYNB1618, an oral therapy that is in Phase I/IIa clinical trial to treat phenylketonuria.
Further Reading: Earnings Per Share (EPS) Explained
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