Armistice Capital adds Synergy Pharmaceuticals Inc (SGYP) to its portfolio

Synergy Pharmaceuticals Inc (SGYP) : Armistice Capital added new position in Synergy Pharmaceuticals Inc during the most recent quarter end. The investment management firm now holds 2,200,000 shares of Synergy Pharmaceuticals Inc which is valued at $10,978,000 , the company said in a statement filed on Aug 15, 2016 with the SEC.Synergy Pharmaceuticals Inc makes up approximately 4.94% of Armistice Capital’s portfolio.

Other Hedge Funds, Including , Point72 Asset Management sold out all of its stake in SGYP during the most recent quarter. The investment firm sold 320,400 shares of SGYP which is valued $1,598,796.Raymond James Financial Services Advisors reduced its stake in SGYP by selling 10,691 shares or 35.02% in the most recent quarter. The Hedge Fund company now holds 19,838 shares of SGYP which is valued at $98,992. State Treasurer State Of Michigan added SGYP to its portfolio by purchasing 40,000 company shares during the most recent quarter which is valued at $168,000. Spot Trading L.l.c sold out all of its stake in SGYP during the most recent quarter. The investment firm sold 28,187 shares of SGYP which is valued $118,385.

Synergy Pharmaceuticals Inc opened for trading at $4.7 and hit $4.77 on the upside on Thursday, eventually ending the session at $4.76, with a gain of 0.63% or 0.03 points. The heightened volatility saw the trading volume jump to 12,95,267 shares. Company has a market cap of $854 M.

Synergy Pharmaceuticals Inc. (Synergy) is a biopharmaceutical company focused on the development of drugs to treat gastrointestinal (GI) disorders and diseases. The Company’s platform technology is based on the naturally occurring human GI peptide uroguanylin a regulator of normal GI physiology. The Company’s products include plecanatide SP-333 and FV-100. The Company’s lead product is plecanatide a guanylate cyclase C (GC-C) receptor agonist designed to treat GI disorders primarily chronic idiopathic constipation (CIC) and constipation predominant irritable bowel syndrome (IBS-C). The Company is developing a second-generation GC-C receptor agonist SP-333 for the treatment of opioid induced constipation (OIC) and for inflammatory bowel disease (IBD). FV-100 is an orally available nucleoside analog. The Company’s subsidiaries include Synergy Advanced Pharmaceuticals Inc. IgX Ltd and ContraVir Pharmaceuticals Inc.

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