Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Down 3.4%

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) fell 3.4% during mid-day trading on Wednesday . The company traded as low as $19.81 and last traded at $19.85. 212,486 shares were traded during mid-day trading, a decline of 80% from the average session volume of 1,068,842 shares. The stock had previously closed at $20.54.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group initiated coverage on Syndax Pharmaceuticals in a report on Friday, June 28th. They issued a “buy” rating and a $37.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of Syndax Pharmaceuticals from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Bank of America increased their target price on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. dropped their price target on Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Finally, HC Wainwright lifted their target price on Syndax Pharmaceuticals from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.33.

Syndax Pharmaceuticals Stock Performance

The stock has a market cap of $1.63 billion, a P/E ratio of -5.93 and a beta of 0.91. The firm has a 50 day simple moving average of $21.39 and a two-hundred day simple moving average of $21.55.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Thursday, August 1st. The company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.11. The company had revenue of $3.50 million during the quarter. The firm’s quarterly revenue was up 3499999990.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.64) EPS. As a group, equities research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.66 EPS for the current year.

Insider Activity at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CFO Keith A. Goldan purchased 1,250 shares of the business’s stock in a transaction on Friday, June 14th. The stock was bought at an average cost of $20.03 per share, with a total value of $25,037.50. Following the acquisition, the chief financial officer now owns 52,623 shares of the company’s stock, valued at $1,054,038.69. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new stake in Syndax Pharmaceuticals during the second quarter worth approximately $27,000. nVerses Capital LLC acquired a new position in shares of Syndax Pharmaceuticals during the 2nd quarter worth about $33,000. CWM LLC boosted its stake in Syndax Pharmaceuticals by 415.3% during the 4th quarter. CWM LLC now owns 1,685 shares of the company’s stock valued at $36,000 after purchasing an additional 1,358 shares during the period. Quadrant Capital Group LLC grew its holdings in Syndax Pharmaceuticals by 158.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $53,000 after buying an additional 1,496 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Syndax Pharmaceuticals by 75.0% in the second quarter. Quarry LP now owns 6,125 shares of the company’s stock worth $126,000 after acquiring an additional 2,625 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).