Wall Street brokerages expect that Synlogic Inc (NASDAQ:SYBX) will announce sales of $230,000.00 for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Synlogic’s earnings. The lowest sales estimate is $100,000.00 and the highest is $350,000.00. The company is scheduled to announce its next quarterly earnings report on Friday, August 3rd.
On average, analysts expect that Synlogic will report full year sales of $970,000.00 for the current financial year, with estimates ranging from $690,000.00 to $1.55 million. For the next year, analysts forecast that the business will post sales of $820,000.00 per share, with estimates ranging from $400,000.00 to $2.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Synlogic.
Synlogic (NASDAQ:SYBX) last issued its earnings results on Tuesday, May 15th. The biotechnology company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.18. The company had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.21 million.
A number of analysts have weighed in on the stock. HC Wainwright set a $20.00 target price on shares of Synlogic and gave the company a “buy” rating in a research report on Wednesday, April 4th. Zacks Investment Research lowered shares of Synlogic from a “buy” rating to a “hold” rating in a research report on Tuesday, May 22nd. ValuEngine upgraded shares of Synlogic from a “strong sell” rating to a “sell” rating in a research report on Friday, April 27th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $15.00 target price on shares of Synlogic in a research report on Monday, April 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Synlogic currently has an average rating of “Buy” and a consensus target price of $18.20.
Synlogic traded down $0.81, reaching $9.49, during mid-day trading on Friday, Marketbeat reports. The company had a trading volume of 17,011 shares, compared to its average volume of 114,274. Synlogic has a fifty-two week low of $8.73 and a fifty-two week high of $23.00. The firm has a market capitalization of $262.14 million, a P/E ratio of -1.61 and a beta of 1.83.
In other news, insider Paul Francis Miller sold 3,000 shares of Synlogic stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $9.77, for a total transaction of $29,310.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 23.30% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. NEA Management Company LLC lifted its holdings in shares of Synlogic by 10.7% during the first quarter. NEA Management Company LLC now owns 4,229,410 shares of the biotechnology company’s stock worth $39,672,000 after purchasing an additional 410,000 shares during the period. Farallon Capital Management LLC acquired a new position in shares of Synlogic during the first quarter worth $9,146,000. Sofinnova Ventures Inc acquired a new position in shares of Synlogic during the first quarter worth $5,393,000. Texas Treasury Safekeeping Trust Co. acquired a new position in shares of Synlogic during the first quarter worth $975,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Synlogic during the first quarter worth $538,000. Institutional investors own 63.54% of the company’s stock.
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.
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