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

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on SNDX shares. UBS Group assumed coverage on Syndax Pharmaceuticals in a research note on Thursday, October 24th. They set a “buy” rating and a $37.00 price objective for the company. Stifel Nicolaus increased their price objective on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Monday, October 14th. HC Wainwright reaffirmed a “buy” rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 10th. The Goldman Sachs Group upped their target price on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, StockNews.com downgraded shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.64.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNDX. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Syndax Pharmaceuticals in the second quarter valued at about $27,000. Values First Advisors Inc. acquired a new position in shares of Syndax Pharmaceuticals in the third quarter worth $30,000. nVerses Capital LLC purchased a new stake in shares of Syndax Pharmaceuticals in the second quarter valued at $33,000. Quantbot Technologies LP acquired a new stake in shares of Syndax Pharmaceuticals during the third quarter valued at $49,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Syndax Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock worth $58,000 after purchasing an additional 541 shares in the last quarter.

Syndax Pharmaceuticals Stock Up 3.4 %

NASDAQ SNDX traded up $0.46 during trading hours on Friday, hitting $13.93. 3,875,184 shares of the company were exchanged, compared to its average volume of 2,072,802. Syndax Pharmaceuticals has a 52-week low of $13.26 and a 52-week high of $25.34. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -3.84 and a beta of 0.86. The company has a 50 day moving average of $17.81 and a two-hundred day moving average of $19.45.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.15. The company had revenue of $12.50 million during the quarter, compared to analysts’ expectations of $9.16 million. During the same period last year, the firm earned ($0.73) earnings per share. On average, equities research analysts predict that Syndax Pharmaceuticals will post -2.39 EPS for the current year.

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).