Syndax Pharmaceuticals (NASDAQ:SNDX) Sets New 52-Week Low at $17.49

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) hit a new 52-week low during trading on Friday . The stock traded as low as $17.49 and last traded at $17.50, with a volume of 1088351 shares trading hands. The stock had previously closed at $18.05.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SNDX shares. B. Riley upped their price objective on shares of Syndax Pharmaceuticals from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. JPMorgan Chase & Co. decreased their target price on Syndax Pharmaceuticals from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Wednesday, August 16th. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target on shares of Syndax Pharmaceuticals in a report on Friday, August 4th. Guggenheim increased their price objective on shares of Syndax Pharmaceuticals from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, July 24th. Finally, StockNews.com raised shares of Syndax Pharmaceuticals to a “sell” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Syndax Pharmaceuticals Stock Down 3.0 %

The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -7.20 and a beta of 1.13. The company’s fifty day moving average is $19.73 and its two-hundred day moving average is $20.86.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings results on Thursday, August 3rd. The company reported ($0.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $0.09. During the same period in the prior year, the business earned ($0.62) earnings per share. On average, equities research analysts expect that Syndax Pharmaceuticals, Inc. will post -2.94 EPS for the current year.

Insider Activity

In related news, Director Briggs Morrison sold 52,855 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $20.40, for a total transaction of $1,078,242.00. Following the completion of the transaction, the director now owns 17,836 shares in the company, valued at $363,854.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Syndax Pharmaceuticals news, Director Briggs Morrison sold 52,855 shares of Syndax Pharmaceuticals stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $20.40, for a total transaction of $1,078,242.00. Following the transaction, the director now directly owns 17,836 shares in the company, valued at $363,854.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William Meury sold 83,000 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $20.46, for a total value of $1,698,180.00. Following the completion of the sale, the director now owns 48,000 shares of the company’s stock, valued at $982,080. The disclosure for this sale can be found here. Insiders sold a total of 189,287 shares of company stock valued at $3,754,956 in the last ninety days. 4.70% of the stock is owned by insiders.

Institutional Trading of Syndax Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Braidwell LP acquired a new stake in shares of Syndax Pharmaceuticals during the fourth quarter worth $31,629,000. Point72 Asset Management L.P. bought a new stake in shares of Syndax Pharmaceuticals in the fourth quarter valued at about $23,501,000. BVF Inc. IL grew its holdings in shares of Syndax Pharmaceuticals by 47.7% during the first quarter. BVF Inc. IL now owns 2,143,197 shares of the company’s stock worth $45,264,000 after buying an additional 692,000 shares in the last quarter. Barclays PLC raised its position in Syndax Pharmaceuticals by 249.3% in the 4th quarter. Barclays PLC now owns 963,336 shares of the company’s stock valued at $24,517,000 after buying an additional 687,577 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in Syndax Pharmaceuticals by 39.5% in the 4th quarter. Jennison Associates LLC now owns 2,302,246 shares of the company’s stock valued at $58,592,000 after acquiring an additional 652,451 shares in the last quarter.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are SNDX-5613, which is in phase 1/2 clinical trial targeting the binding interaction of Menin with the mixed lineage leukemia 1 for the treatment of KMT2A rearranged (KMT2Ar) and nucleophosmin 1 mutant acute myeloid leukemia (NPM1); 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).