Syndax Pharmaceuticals (NASDAQ:SNDX) Trading Down 3.4%

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. HC Wainwright lifted their target price on Syndax Pharmaceuticals from $41.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, August 15th. Citigroup lifted their target price on Syndax Pharmaceuticals from $30.00 to $34.00 and gave the stock a "buy" rating in a report on Friday, August 16th. Barclays lifted their target price on Syndax Pharmaceuticals from $32.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, August 15th. JPMorgan Chase & Co. lowered their target price on Syndax Pharmaceuticals from $34.00 to $33.00 and set an "overweight" rating for the company in a report on Tuesday, August 6th. Finally, Stifel Nicolaus lifted their target price on Syndax Pharmaceuticals from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $35.33.

Syndax Pharmaceuticals Stock Down 4.3 %

The company has a market cap of $1.67 billion, a PE ratio of -6.10 and a beta of 0.91. The company has a 50-day moving average of $21.41 and a 200-day moving average of $21.56.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.80) EPS for the quarter, topping analysts' consensus estimates of ($0.91) by $0.11. The business had revenue of $3.50 million for the quarter. The company's revenue for the quarter was up 3499999990.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.64) EPS. As a group, equities analysts predict that Syndax Pharmaceuticals, Inc. will post -3.66 EPS for the current year.

Insider Buying and Selling

In other Syndax Pharmaceuticals news, CFO Keith A. Goldan purchased 1,250 shares of the company's stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average cost of $20.03 per share, for a total transaction of $25,037.50. Following the completion of the acquisition, the chief financial officer now owns 52,623 shares of the company's stock, valued at approximately $1,054,038.69. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Syndax Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Kynam Capital Management LP raised its stake in shares of Syndax Pharmaceuticals by 41.5% in the fourth quarter. Kynam Capital Management LP now owns 5,660,000 shares of the company's stock valued at $122,313,000 after buying an additional 1,660,000 shares during the period. Vanguard Group Inc. raised its stake in shares of Syndax Pharmaceuticals by 13.6% in the first quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company's stock valued at $117,262,000 after buying an additional 591,631 shares during the period. Avoro Capital Advisors LLC raised its stake in shares of Syndax Pharmaceuticals by 65.2% during the 4th quarter. Avoro Capital Advisors LLC now owns 4,222,222 shares of the company's stock valued at $91,242,000 after purchasing an additional 1,666,667 shares during the period. Avidity Partners Management LP raised its stake in shares of Syndax Pharmaceuticals by 40.0% during the 4th quarter. Avidity Partners Management LP now owns 3,950,000 shares of the company's stock valued at $85,360,000 after purchasing an additional 1,129,000 shares during the period. Finally, Point72 Asset Management L.P. raised its stake in shares of Syndax Pharmaceuticals by 35.3% during the 4th quarter. Point72 Asset Management L.P. now owns 2,834,499 shares of the company's stock valued at $61,254,000 after purchasing an additional 740,298 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).