On the 20th of April, Orbimed Advisors added 1.7 million Synlogic, Inc. (NASDAQ:SYBX) shares for $5 million at an average price of $3.00 per share. Shares of Synlogic, Inc. are up 14.80% since the transaction.
Orbimed Advisors's holding in Synlogic, Inc. increased to about 3.7 million shares with the purchase.
Orbimed Advisors first bought Synlogic, Inc. stock in the third quarter of 2017. Orbimed Advisors also owns Adicet Bio, Inc. (ACET), Bristol-Myers Squibb Co (NYSE:BMY), Merck (MRK) and Larimar Therapeutics, Inc. (LRMR). Synlogic, Inc. is its number fifty one position by number of shares and market value among biotechnology & life sciences stocks.
Contrary to Orbimed Advisors, Millennium Management reduced SYBX shares.