Synthetic Biologics Inc (SYN) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Synthetic Biologics Inc (NYSEMKT:SYN) from a buy rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “Synthetic Biologics, Inc. is a biotechnology company focused on the development of synthetic DNA-based therapeutics and innovative disease-modifying medicines for serious illnesses. The Company is engaged in developing product candidates to treat pulmonary arterial hypertension, relapses in multiple sclerosis, cognitive dysfunction in multiple sclerosis, fibromyalgia and amyotrophic lateral sclerosis. Synthetic Biologics, Inc., formerly known as Adeona Pharmaceuticals, Inc., is headquartered in Ann Arbor, Michigan. “

Separately, ValuEngine downgraded shares of Synthetic Biologics from a sell rating to a strong sell rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $3.92.

Synthetic Biologics (NYSEMKT SYN) opened at 0.90 on Tuesday. Synthetic Biologics has a one year low of $0.41 and a one year high of $1.68. The firm’s market cap is $115.42 million. The company’s 50-day moving average is $0.84 and its 200 day moving average is $0.63.

Synthetic Biologics (NYSEMKT:SYN) last announced its quarterly earnings results on Thursday, August 3rd. The company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.03. Equities analysts anticipate that Synthetic Biologics will post ($0.17) earnings per share for the current year.

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A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its holdings in shares of Synthetic Biologics by 3.1% in the 1st quarter. Bank of New York Mellon Corp now owns 263,598 shares of the company’s stock worth $166,000 after buying an additional 7,962 shares during the last quarter. UBS Group AG boosted its holdings in shares of Synthetic Biologics by 10.3% in the 1st quarter. UBS Group AG now owns 214,357 shares of the company’s stock worth $135,000 after buying an additional 20,038 shares during the last quarter. Creative Planning boosted its holdings in shares of Synthetic Biologics by 65.4% in the 2nd quarter. Creative Planning now owns 177,000 shares of the company’s stock worth $100,000 after buying an additional 70,000 shares during the last quarter. LMR Partners LLP purchased a new position in shares of Synthetic Biologics in the 2nd quarter worth about $194,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Synthetic Biologics by 8,102.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,129,108 shares of the company’s stock worth $639,000 after buying an additional 1,115,343 shares during the last quarter.

About Synthetic Biologics

Synthetic Biologics, Inc is a clinical-stage company. The Company is engaged in developing therapeutics to protect the gut microbiome while targeting pathogen-specific diseases. The Company’s lead product candidates in Phase II development are SYN-010, which is intended to reduce the impact of methane-producing organisms in the gut microbiome to treat an underlying cause of irritable bowel syndrome with constipation (IBS-C), and SYN-004, which is designed to protect the gut microbiome (gastrointestinal (GI) microflora) from the effects of certain commonly used intravenous (IV) antibiotics for the prevention of C.

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