The stock of Synthetic Biologics, Inc. (NYSE:SYN) is now priced at $0.64 and the shares are 0.03 points up or 4.5% higher compared to its previous closing price of $0.61. The stock had 1.423 million contracts set over the past session. SYN shares’ daily volume is compared to its average trading volume at 0.609 million shares. However, it has a float of 19.3 million and although its performance was 34.76% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the SYN share price recently placing at $0.6 to $0.67. However, some brokerage firms have priced the stock below the average, including one that has called $1.25.
The shorts are running away from the Synthetic Biologics, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the SYN shares have declined. Short interest in the stock represents just 1.07% of its float, but the volume has dropped by 0.
In the last trading session, Synthetic Biologics, Inc. (NYSE:SYN) raised by $0.1647 over the week and gained $0.0685 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $0.75. The stock recorded its established 52-week high on 07/30/20.
Since 03/19/20, the stock has traded to a low of $0.2522 at 153.17%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.95. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Synthetic Biologics, Inc.’s two-week RSI is 61.43. This suggests that the stock is neutral at the moment and that SYN shares’ price movement remains stable. The stochastic readings are equally revealing at 89.95% meaning the SYN share price is currently in oversold territory.
The technical chart shows that the SYN stock will likely settle at between $0.6696 and $0.7007 per share. However, if the stock dips below $0.6042, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.5699.
Currently, the stock is trading in the green of MACD, with a reading of 0.0664. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at FBR & Co. though raised target price of SYN stock from $5 to $6 but maintained Outperform recommendation in their January 06 review. FBR Capital analysts see the stock as a Outperform, but they also raised the share’s target price from $10 to $9 in a flash note released to investors on May 06. FBR Capital analysts see the stock as Outperform when the analysts initiated the share price coverage on February 26, placing it at $10.
The average rating for the SYN equity is 2 and is currently gathering a bullish momentum. Of 2 analysts tracking Synthetic Biologics, Inc. polled by Reuters, 0 rated SYN as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.