Syndax Pharmaceuticals (NASDAQ:SNDX) Trading Up 6.7% – What’s Next?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s stock price was up 6.7% during mid-day trading on Thursday . The stock traded as high as $15.72 and last traded at $15.74. Approximately 475,159 shares changed hands during trading, a decline of 78% from the average daily volume of 2,190,560 shares. The stock had previously closed at $14.75.

Analysts Set New Price Targets

A number of brokerages recently commented on SNDX. Citigroup increased their price objective on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group increased their price target on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Scotiabank dropped their price objective on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 8th. StockNews.com lowered Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. Finally, HC Wainwright reiterated a “buy” rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Syndax Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

Syndax Pharmaceuticals Stock Performance

The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -4.51 and a beta of 0.90. The company has a fifty day simple moving average of $13.97 and a two-hundred day simple moving average of $16.97.

Insider Activity at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 13,288 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $205,964.00. Following the transaction, the chief executive officer now owns 300,121 shares of the company’s stock, valued at $4,651,875.50. This trade represents a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Neil Gallagher sold 4,618 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $71,579.00. Following the sale, the insider now directly owns 85,095 shares of the company’s stock, valued at $1,318,972.50. This represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,683 shares of company stock worth $336,087. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Syndax Pharmaceuticals by 4.1% during the 3rd quarter. State Street Corp now owns 3,770,826 shares of the company’s stock worth $72,588,000 after purchasing an additional 148,491 shares during the period. Soleus Capital Management L.P. lifted its position in Syndax Pharmaceuticals by 128.4% during the fourth quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company’s stock valued at $32,944,000 after buying an additional 1,401,016 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Syndax Pharmaceuticals by 343.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,064,456 shares of the company’s stock worth $27,292,000 after buying an additional 1,598,428 shares during the period. Geode Capital Management LLC increased its position in shares of Syndax Pharmaceuticals by 3.5% in the third quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company’s stock worth $38,066,000 after acquiring an additional 66,459 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Syndax Pharmaceuticals by 13.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock valued at $34,948,000 after acquiring an additional 208,043 shares during the period.

About Syndax Pharmaceuticals

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).