Syndax Pharmaceuticals (NASDAQ:SNDX) Sets New 12-Month Low - What's Next?

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) reached a new 52-week low on Tuesday . The company traded as low as $11.69 and last traded at $11.81, with a volume of 60622 shares trading hands. The stock had previously closed at $12.29.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SNDX shares. HC Wainwright reaffirmed a "buy" rating and set a $51.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. StockNews.com raised Syndax Pharmaceuticals to a "sell" rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Citigroup lowered their target price on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Finally, Scotiabank cut their target price on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a "sector perform" rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Syndax Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $36.20.

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Syndax Pharmaceuticals Trading Down 9.7 %

The stock has a market cap of $967.77 million, a price-to-earnings ratio of -3.10 and a beta of 0.92. The company has a 50 day simple moving average of $14.13 and a 200-day simple moving average of $15.68.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last announced its earnings results on Monday, March 3rd. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.79). The company had revenue of $7.68 million during the quarter, compared to analyst estimates of $86.32 million. Equities analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

Insider Transactions at Syndax Pharmaceuticals

In other news, insider Neil Gallagher sold 4,618 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction of $71,579.00. Following the sale, the insider now owns 85,095 shares in the company, valued at $1,318,972.50. This represents a 5.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Keith A. Goldan sold 3,777 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $58,543.50. Following the completion of the sale, the chief financial officer now owns 90,746 shares of the company's stock, valued at approximately $1,406,563. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,683 shares of company stock valued at $336,087 over the last 90 days. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in shares of Syndax Pharmaceuticals during the fourth quarter worth approximately $26,000. Quantbot Technologies LP bought a new stake in Syndax Pharmaceuticals in the 3rd quarter valued at $49,000. Virtus ETF Advisers LLC grew its holdings in Syndax Pharmaceuticals by 18.6% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock valued at $70,000 after buying an additional 827 shares in the last quarter. Cape Investment Advisory Inc. increased its position in Syndax Pharmaceuticals by 157.1% during the fourth quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company's stock worth $85,000 after acquiring an additional 3,927 shares during the period. Finally, KBC Group NV grew its holdings in shares of Syndax Pharmaceuticals by 104.8% during the 4th quarter. KBC Group NV now owns 6,954 shares of the company's stock worth $92,000 after purchasing an additional 3,559 shares in the last quarter.

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).