Syndax Pharmaceuticals (NASDAQ:SNDX) Trading Down 3.4%

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) dropped 3.4% on Wednesday . The company traded as low as $19.81 and last traded at $19.85. Approximately 212,486 shares were traded during trading, a decline of 80% from the average daily volume of 1,068,842 shares. The stock had previously closed at $20.54.

Wall Street Analyst Weigh In

SNDX has been the topic of several research reports. Scotiabank lowered Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 14th. Stifel Nicolaus boosted their price target on Syndax Pharmaceuticals from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. HC Wainwright lifted their price objective on Syndax Pharmaceuticals from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Bank of America lifted their target price on Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. lowered their price objective on Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Syndax Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

Syndax Pharmaceuticals Stock Down 2.6 %

The firm has a 50 day moving average of $21.39 and a 200-day moving average of $21.55. The company has a market cap of $1.63 billion, a P/E ratio of -5.93 and a beta of 0.91.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Thursday, August 1st. The company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.11. The company had revenue of $3.50 million for the quarter. The company’s quarterly revenue was up 3499999990.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.64) earnings per share. On average, research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.66 EPS for the current fiscal year.

Insider Activity

In other news, CFO Keith A. Goldan bought 1,250 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $20.03 per share, for a total transaction of $25,037.50. Following the completion of the transaction, the chief financial officer now directly owns 52,623 shares in the company, valued at approximately $1,054,038.69. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the company. CWM LLC grew its stake in shares of Syndax Pharmaceuticals by 415.3% in the fourth quarter. CWM LLC now owns 1,685 shares of the company’s stock valued at $36,000 after buying an additional 1,358 shares in the last quarter. Swiss National Bank increased its holdings in shares of Syndax Pharmaceuticals by 17.7% in the 4th quarter. Swiss National Bank now owns 142,400 shares of the company’s stock valued at $3,077,000 after acquiring an additional 21,400 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Syndax Pharmaceuticals by 13.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 577,022 shares of the company’s stock worth $12,469,000 after acquiring an additional 70,555 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Syndax Pharmaceuticals by 38.1% during the fourth quarter. BNP Paribas Financial Markets now owns 162,905 shares of the company’s stock worth $3,520,000 after purchasing an additional 44,906 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Syndax Pharmaceuticals by 28.0% in the 4th quarter. Principal Financial Group Inc. now owns 55,194 shares of the company’s stock valued at $1,193,000 after buying an additional 12,074 shares in the last quarter.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).