Asymmetry Capital Management L.P. Sells 719,074 Shares of Synergy Pharmaceuticals, Inc. (SGYP)

Asymmetry Capital Management L.P. cut its position in shares of Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) by 65.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 372,694 shares of the biopharmaceutical company’s stock after selling 719,074 shares during the period. Synergy Pharmaceuticals accounts for about 2.0% of Asymmetry Capital Management L.P.’s investment portfolio, making the stock its 19th largest position. Asymmetry Capital Management L.P. owned approximately 0.17% of Synergy Pharmaceuticals worth $1,658,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SGYP. Russell Investments Group Ltd. raised its stake in shares of Synergy Pharmaceuticals by 11.9% during the 1st quarter. Russell Investments Group Ltd. now owns 219,625 shares of the biopharmaceutical company’s stock worth $1,024,000 after purchasing an additional 23,278 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Synergy Pharmaceuticals by 15.0% during the 1st quarter. Wells Fargo & Company MN now owns 178,624 shares of the biopharmaceutical company’s stock worth $832,000 after purchasing an additional 23,350 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Synergy Pharmaceuticals by 11.3% during the 1st quarter. Bank of New York Mellon Corp now owns 1,235,421 shares of the biopharmaceutical company’s stock worth $5,757,000 after purchasing an additional 125,882 shares in the last quarter. Swiss National Bank raised its stake in shares of Synergy Pharmaceuticals by 11.7% during the 1st quarter. Swiss National Bank now owns 324,850 shares of the biopharmaceutical company’s stock worth $1,514,000 after purchasing an additional 34,000 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Synergy Pharmaceuticals by 47.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 78,636 shares of the biopharmaceutical company’s stock worth $366,000 after purchasing an additional 25,300 shares in the last quarter. 71.47% of the stock is owned by institutional investors.

A number of equities research analysts have recently weighed in on the company. BTIG Research reaffirmed a “buy” rating and set a $11.00 price target on shares of Synergy Pharmaceuticals in a research note on Tuesday, June 27th. BidaskClub raised Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. Zacks Investment Research raised Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Canaccord Genuity reaffirmed a “buy” rating and set a $13.00 price target on shares of Synergy Pharmaceuticals in a research note on Monday, July 10th. Finally, Citigroup Inc. reaffirmed a “sell” rating and set a $3.70 price target on shares of Synergy Pharmaceuticals in a research note on Wednesday, June 28th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $8.90.

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In related news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $3.77, for a total transaction of $99,101.99. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Shares of Synergy Pharmaceuticals, Inc. (NASDAQ SGYP) traded down 0.93% on Thursday, hitting $3.21. The stock had a trading volume of 1,671,870 shares. The stock’s market capitalization is $722.10 million. Synergy Pharmaceuticals, Inc. has a one year low of $2.56 and a one year high of $7.15. The firm’s 50 day moving average is $2.94 and its 200-day moving average is $3.78.

Synergy Pharmaceuticals (NASDAQ:SGYP) last released its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.08). The company had revenue of $2.31 million during the quarter, compared to analyst estimates of $1.98 million. During the same quarter in the previous year, the firm earned ($0.23) EPS. Equities research analysts expect that Synergy Pharmaceuticals, Inc. will post ($1.16) earnings per share for the current fiscal year.

About Synergy Pharmaceuticals

Synergy Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of gastrointestinal (GI) therapies. The Company’s product candidates include TRULANCE (plecanatide) and dolcanatide. The Company is engaged in the discovery, research and development efforts around analogs of uroguanylin for the treatment of GI diseases and disorders.

Institutional Ownership by Quarter for Synergy Pharmaceuticals (NASDAQ:SGYP)

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