Syndax Pharmaceuticals (NASDAQ:SNDX) Trading 6.7% Higher – Time to Buy?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s stock price traded up 6.7% on Thursday . The stock traded as high as $15.72 and last traded at $15.74. 475,159 shares traded hands during trading, a decline of 78% from the average session volume of 2,190,560 shares. The stock had previously closed at $14.75.

Wall Street Analyst Weigh In

A number of research firms recently commented on SNDX. Scotiabank dropped 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 research report on Wednesday, January 8th. StockNews.com lowered Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 23rd. The Goldman Sachs Group lifted their target price on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Citigroup upped their target price on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $51.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 10th. 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, the company has an average rating of “Moderate Buy” and an average target price of $36.20.

Syndax Pharmaceuticals Stock Up 2.4 %

The stock has a fifty day moving average price of $13.97 and a 200-day moving average price of $16.97. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -4.51 and a beta of 0.90.

Insider Activity

In other news, CFO Keith A. Goldan sold 3,777 shares of the firm’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 value of $58,543.50. Following the completion of the sale, the chief financial officer now directly owns 90,746 shares of the company’s stock, valued at $1,406,563. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Neil Gallagher sold 4,618 shares of Syndax Pharmaceuticals 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 $71,579.00. Following the completion of the sale, the insider now owns 85,095 shares in the company, valued at approximately $1,318,972.50. This trade represents a 5.15 % decrease in their ownership of the stock. 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 quarter. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of large investors have recently made changes to their positions in SNDX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Syndax Pharmaceuticals by 23.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 170,100 shares of the company’s stock worth $2,249,000 after buying an additional 32,653 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Syndax Pharmaceuticals during the 4th quarter valued at approximately $1,045,000. Soleus Capital Management L.P. boosted its stake in shares of Syndax Pharmaceuticals by 128.4% during the 4th quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company’s stock worth $32,944,000 after acquiring an additional 1,401,016 shares in the last quarter. Twinbeech Capital LP grew its holdings in shares of Syndax Pharmaceuticals by 79.2% in the 4th quarter. Twinbeech Capital LP now owns 355,900 shares of the company’s stock worth $4,705,000 after acquiring an additional 157,321 shares during the period. Finally, Tang Capital Management LLC acquired a new stake in shares of Syndax Pharmaceuticals in the 4th quarter worth approximately $1,322,000.

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).