Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Short Interest Update

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) saw a significant increase in short interest in November. As of November 30th, there was short interest totalling 14,400,000 shares, an increase of 35.8% from the November 15th total of 10,600,000 shares. Based on an average trading volume of 1,480,000 shares, the short-interest ratio is currently 9.7 days.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. State Street Corp increased its position in shares of Syndax Pharmaceuticals by 4.1% during the third 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 in the last quarter. Sofinnova Investments Inc. increased its position in shares of Syndax Pharmaceuticals by 33.9% during the second quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company's stock worth $44,215,000 after purchasing an additional 545,129 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Syndax Pharmaceuticals by 3.5% during the third quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company's stock valued at $38,066,000 after buying an additional 66,459 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Syndax Pharmaceuticals by 13.4% during the third quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company's stock valued at $34,948,000 after buying an additional 208,043 shares during the last quarter. Finally, First Turn Management LLC grew its holdings in shares of Syndax Pharmaceuticals by 85.4% during the third quarter. First Turn Management LLC now owns 1,187,165 shares of the company's stock valued at $22,853,000 after buying an additional 546,776 shares during the last quarter.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX traded up $0.46 during trading hours on Friday, reaching $13.93. The company's stock had a trading volume of 3,875,184 shares, compared to its average volume of 2,072,802. The company has a market capitalization of $1.19 billion, a P/E ratio of -3.84 and a beta of 0.86. Syndax Pharmaceuticals has a 12 month low of $13.26 and a 12 month high of $25.34. The stock has a 50 day moving average price of $17.81 and a two-hundred day moving average price of $19.45.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, topping analysts' consensus estimates of ($1.13) by $0.15. The business had revenue of $12.50 million during the quarter, compared to the consensus estimate of $9.16 million. During the same period last year, the firm earned ($0.73) EPS. As a group, analysts predict that Syndax Pharmaceuticals will post -2.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SNDX has been the subject of several recent analyst reports. HC Wainwright restated a "buy" rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 10th. StockNews.com lowered Syndax Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, November 23rd. Stifel Nicolaus boosted their target price on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a "buy" rating in a research report on Monday, October 14th. The Goldman Sachs Group boosted their target price on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their price target on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.64.

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).