Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Gap Down – Should You Sell?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $21.78, but opened at $16.27. Syndax Pharmaceuticals shares last traded at $16.69, with a volume of 2,373,487 shares changing hands.

Analyst Ratings Changes

A number of research firms recently weighed in on SNDX. Barclays upped their target price on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. StockNews.com raised Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. UBS Group started coverage on Syndax Pharmaceuticals in a research report on Thursday, October 24th. They set a “buy” rating and a $37.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their price objective on Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $36.00.

Syndax Pharmaceuticals Trading Down 24.2 %

The firm’s 50 day moving average is $19.14 and its two-hundred day moving average is $20.33. The firm has a market cap of $1.41 billion, a P/E ratio of -4.64 and a beta of 0.92.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.13) by $0.15. The business had revenue of $12.50 million for the quarter, compared to analyst estimates of $9.16 million. During the same quarter in the previous year, the company posted ($0.73) EPS. Analysts predict that Syndax Pharmaceuticals, Inc. will post -3.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 during the last quarter. Sei Investments Co. boosted its holdings in Syndax Pharmaceuticals by 2.5% during the 1st quarter. Sei Investments Co. now owns 40,463 shares of the company’s stock worth $963,000 after acquiring an additional 991 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Syndax Pharmaceuticals by 1.5% during the 1st quarter. California State Teachers Retirement System now owns 76,557 shares of the company’s stock worth $1,822,000 after acquiring an additional 1,150 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Syndax Pharmaceuticals during the 2nd quarter worth $27,000. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of Syndax Pharmaceuticals by 20.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,858 shares of the company’s stock worth $187,000 after buying an additional 1,312 shares during 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 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).