Syndax Pharmaceuticals (NASDAQ:SNDX) Trading 4.7% Higher – What’s Next?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) shares rose 4.7% during trading on Wednesday . The stock traded as high as $12.68 and last traded at $12.58. Approximately 115,632 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 1,513,379 shares. The stock had previously closed at $12.01.

Wall Street Analysts Forecast Growth

SNDX has been the topic of a number of recent analyst reports. StockNews.com raised Syndax Pharmaceuticals to a “sell” rating in a report on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $51.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. JPMorgan Chase & Co. raised their price objective on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Scotiabank decreased their price objective 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. Finally, Citigroup dropped their target price on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. One 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

Syndax Pharmaceuticals Stock Performance

The company has a 50-day moving average of $14.25 and a 200-day moving average of $15.77. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -3.45 and a beta of 0.92.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Monday, March 3rd. The company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.79). The firm had revenue of $7.68 million during the quarter, compared to the consensus estimate of $86.32 million. As a group, analysts expect that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Insider Buying and Selling at Syndax Pharmaceuticals

In other news, CEO Michael A. Metzger sold 13,288 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $205,964.00. Following the completion of the transaction, the chief executive officer now owns 300,121 shares of the company’s stock, valued at $4,651,875.50. The trade was a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Neil Gallagher sold 4,618 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $71,579.00. Following the transaction, the insider now directly owns 85,095 shares in the company, valued at $1,318,972.50. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,683 shares of company stock worth $336,087. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the stock. R Squared Ltd acquired a new position in shares of Syndax Pharmaceuticals in the 4th quarter valued at $26,000. Quantbot Technologies LP acquired a new position in Syndax Pharmaceuticals in the third quarter valued at $49,000. Virtus ETF Advisers LLC boosted its holdings in Syndax Pharmaceuticals by 18.6% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company’s stock valued at $70,000 after acquiring an additional 827 shares during the last quarter. Cape Investment Advisory Inc. grew 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 valued at $85,000 after acquiring an additional 3,927 shares during the period. Finally, KBC Group NV increased its stake in Syndax Pharmaceuticals by 104.8% during the fourth quarter. KBC Group NV now owns 6,954 shares of the company’s stock worth $92,000 after acquiring an additional 3,559 shares during 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).