Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Down 5.3%

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) dropped 5.3% on Monday . The company traded as low as $18.07 and last traded at $18.11. Approximately 358,265 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 1,078,578 shares. The stock had previously closed at $19.12.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SNDX shares. Scotiabank cut shares of Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 14th. 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. Bank of America upped their price target on Syndax Pharmaceuticals from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Citigroup lifted their price objective on Syndax Pharmaceuticals from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

Syndax Pharmaceuticals Stock Performance

The business’s 50-day moving average is $21.16 and its two-hundred day moving average is $21.33. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -5.94 and a beta of 0.91.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Thursday, August 1st. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.11. The firm had revenue of $3.50 million during the quarter. During the same quarter in the previous year, the business posted ($0.64) EPS. The business’s revenue for the quarter was up 3499999990.0% on a year-over-year basis. Analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.66 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNDX. Swiss National Bank raised its position in shares of Syndax Pharmaceuticals by 17.7% during the fourth quarter. Swiss National Bank now owns 142,400 shares of the company’s stock worth $3,077,000 after purchasing an additional 21,400 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Syndax Pharmaceuticals by 13.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 577,022 shares of the company’s stock worth $12,469,000 after purchasing an additional 70,555 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Syndax Pharmaceuticals by 38.1% during the 4th quarter. BNP Paribas Financial Markets now owns 162,905 shares of the company’s stock worth $3,520,000 after buying an additional 44,906 shares during the period. Principal Financial Group Inc. lifted its stake in Syndax Pharmaceuticals by 28.0% in the fourth quarter. Principal Financial Group Inc. now owns 55,194 shares of the company’s stock valued at $1,193,000 after buying an additional 12,074 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Syndax Pharmaceuticals by 158.3% in the fourth 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 period.

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).