Renaissance Technologies LLC recently announced the acquisition of new stake in Synthetic Biologics Inc. (AMEX:SYN). The institutional investor has increased its shareholding in the Healthcare company by 29.17% to 0.89 million shares with purchase of 0.2 million shares. This fresh investment now brings its stake to 4.87% valued currently at $0.51 million. In addition, Bridgeway Capital Management, Inc.. raised its holdings by 0.11 million to 0.11 million shares.
With over 1.44 million Synthetic Biologics Inc. (SYN) shares trading Monday and a closing price of $0.64 on the day, the dollar volume was approximately $0.92 million. The shares have shown a positive weekly performance of 34.76% and its price on 08/31/20 gained nearly 4.50%. Currently, there are 19.44M common shares owned by the public and among those 19.30M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for SYN have a consensus price objective of $1.38. The analysts have set the share’s price value over the next 12 months at a high of $1.50 and a low of $1.25 should the stock experience a downside. Incidentally, analysts’ outlook for the Synthetic Biologics Inc. stock is 2.00 for the next 12 months. But an upside of 57.33% will see the stock hit the forecast high price target while mean target price for the stock is $1.38.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Synthetic Biologics Inc. are Bridgeway Ultra Small Company Mar, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Bridgeway Ultra Small Company Mar owns 74300.0 shares of the company’s stock, all valued at over $42945.0. The company bought an additional 74300.0 shares recently to bring their total holdings to about 0.41% of the shares outstanding. Fidelity Extended Market Index Fu now owns shares totaling to 0.08% of the shares outstanding.
Shares of Synthetic Biologics Inc. (AMEX: SYN) opened at $0.63, up $0.02 from a prior closing price of $0.61. However, the script later closed the day at $0.64, up 4.50%. The company’s stock has a 5-day price change of 34.76% and 63.38% over the past three months. SYN shares are trading 25.96% year to date (YTD), with the 12-month market performance up to 35.79% higher. It has a 12-month low price of $0.25 and touched a high of $0.75 over the same period. Currently, 1.44 million shares have been traded, compared to an average intraday trading volume of 603.48K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 14.51%, 17.73%, and 42.70% respectively.
Institutional ownership of Synthetic Biologics Inc. (AMEX: SYN) shares accounts for 7.40% of the company’s 19.44M shares outstanding. Mutual fund holders own 0.68%, while other institutional holders and individual stakeholders account for 6.98% and 0.36% respectively.
It has a market capitalization of $11.91M and a beta (3y monthly) value of 1.95. The earnings-per-share (ttm) stands at -$0.88. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.67% over the week and 8.94% over the month.
Analysts forecast that Synthetic Biologics Inc. (SYN) will achieve an EPS of -$0.17 for the current quarter, -$0.13 for the next quarter and -$0.47 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.18 while analysts give the company a high EPS estimate of -$0.16. Comparatively, EPS for the current quarter was -$0.3 a year ago. Earnings per share for the fiscal year are expected to increase by 75.90%, and 29.90% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Synthetic Biologics Inc. (SYN) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SYN, a number of firms have released research notes about the stock. FBR & Co. stated their Outperform rating for the stock in a research note on January 06, 2017, with the firm’s price target at $5-$6. FBR Capital coverage for the Synthetic Biologics Inc. (SYN) stock in a research note released on May 06, 2016 offered a Outperform rating with a price target of $9. FBR Capital was of a view on February 26, 2016 that the stock is Outperform, while RBC Capital Mkts gave the stock Outperform rating on October 13, 2015, issuing a price target of $8. Maxim Group on their part issued Hold rating on March 16, 2015.