Synthetic Biologics Inc (NYSEAMERICAN:SYN) shares fell 8.3% during trading on Friday . The stock traded as low as $0.11 and last traded at $0.11. 785,581 shares were traded during mid-day trading, an increase of 2% from the average session volume of 767,227 shares. The stock had previously closed at $0.12.
Several brokerages recently commented on SYN. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 target price on shares of Synthetic Biologics in a research report on Thursday. Griffin Securities cut Synthetic Biologics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 9th. Finally, Zacks Investment Research cut Synthetic Biologics from a “buy” rating to a “hold” rating in a report on Wednesday, April 25th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. Synthetic Biologics currently has an average rating of “Hold” and a consensus target price of $21.88.
Shares of Synthetic Biologics are going to reverse split on the morning of Monday, August 13th. The 1-35 reverse split was announced on Wednesday, August 1st. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, August 10th.
A hedge fund recently raised its stake in Synthetic Biologics stock. Blair William & Co. IL grew its stake in shares of Synthetic Biologics Inc (NYSEAMERICAN:SYN) by 14.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,980,857 shares of the company’s stock after purchasing an additional 255,096 shares during the quarter. Blair William & Co. IL owned about 1.54% of Synthetic Biologics worth $631,000 at the end of the most recent quarter.
About Synthetic Biologics
Synthetic Biologics, Inc, a late-stage clinical company, develops therapeutics designed to preserve the microbiome to protect and restore the health of patients. Its lead product candidates are in Phase III development, such as SYN-004 that is designed to protect the gut microbiome from the effects of commonly used intravenous (IV) beta-lactam antibiotics for the prevention of C.
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