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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 21,310,000 shares, a growth of 30.3% from the December 15th total of 16,360,000 shares. Based on an average daily volume of 1,990,000 shares, the days-to-cover ratio is currently 10.7 days.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Syndax Pharmaceuticals by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company's stock worth $58,000 after acquiring an additional 541 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in Syndax Pharmaceuticals in the second quarter worth approximately $27,000. Values First Advisors Inc. bought a new stake in Syndax Pharmaceuticals in the 3rd quarter worth approximately $30,000. Inspire Investing LLC raised its stake in Syndax Pharmaceuticals by 15.0% during the 2nd quarter. Inspire Investing LLC now owns 17,290 shares of the company's stock valued at $355,000 after buying an additional 2,258 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Syndax Pharmaceuticals during the 3rd quarter valued at $49,000.

Syndax Pharmaceuticals Price Performance

NASDAQ SNDX traded up $0.20 during mid-day trading on Thursday, reaching $13.00. The stock had a trading volume of 1,460,048 shares, compared to its average volume of 1,904,135. The stock has a market cap of $1.11 billion, a PE ratio of -3.58 and a beta of 0.89. Syndax Pharmaceuticals has a 1 year low of $12.06 and a 1 year high of $25.34. The company has a fifty day moving average price of $15.10 and a 200 day moving average price of $18.43.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.13) by $0.15. The business had revenue of $12.50 million during the quarter, compared to analysts' expectations of $9.16 million. During the same quarter in the prior year, the firm earned ($0.73) EPS. As a group, equities research analysts expect that Syndax Pharmaceuticals will post -3.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SNDX shares. HC Wainwright reiterated a "buy" rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday, December 10th. Stifel Nicolaus increased their price target on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. StockNews.com lowered shares of Syndax Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, November 23rd. UBS Group initiated coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, October 24th. They set a "buy" rating and a $37.00 target price for the company. Finally, Citigroup lifted their target price on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Syndax Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $36.20.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.