Short Interest in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Rises By 35.8%

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) was the target of a large growth in short interest during 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.

Syndax Pharmaceuticals Stock Up 3.4 %

Syndax Pharmaceuticals stock traded up $0.46 during midday trading on Friday, reaching $13.93. The stock had a trading volume of 3,875,184 shares, compared to its average volume of 2,072,802. The firm has a market capitalization of $1.19 billion, a PE ratio of -3.84 and a beta of 0.86. Syndax Pharmaceuticals has a 12 month low of $13.26 and a 12 month high of $25.34. The firm’s 50-day moving average price is $17.81 and its 200 day moving average price is $19.46.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $9.16 million. During the same period last year, the business posted ($0.73) earnings per share. Equities research analysts expect that Syndax Pharmaceuticals will post -2.39 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Stifel Nicolaus raised their target price on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a report on Monday, October 14th. Citigroup raised their price objective on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. 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 research note on Thursday, November 7th. HC Wainwright reissued a “buy” rating and set a $51.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 10th. Finally, UBS Group initiated coverage on shares of Syndax Pharmaceuticals in a research report on Thursday, October 24th. They issued a “buy” rating and a $37.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.64.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Syndax Pharmaceuticals in the second quarter worth about $27,000. Values First Advisors Inc. bought a new position in Syndax Pharmaceuticals in the 3rd quarter valued at $30,000. nVerses Capital LLC purchased a new position in shares of Syndax Pharmaceuticals during the 2nd quarter valued at $33,000. Quantbot Technologies LP bought a new position in shares of Syndax Pharmaceuticals in the third quarter worth $49,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Syndax Pharmaceuticals by 21.3% in the third 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 period.

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).