Synlogic upgraded to Neutral from Sell at H.C. Wainwright

H.C. Wainwright upgraded Synlogic to Neutral from Sell with no price target after the company announced that it continues to evaluate strategic options after its decision to discontinue the pivotal, Phase 3 Synpheny-3 study of its lead program labafenogene marselecobac, or SYNB1934, as a potential treatment for phenylketonuria, or PKU. Synlogic is “now in a holding pattern” and trading at just one-third cash, the analyst tells investors.