Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Short Interest Up 30.3% in December

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 21,310,000 shares, an increase of 30.3% from the December 15th total of 16,360,000 shares. Based on an average daily volume of 1,990,000 shares, the short-interest ratio is presently 10.7 days.

Institutional Trading of Syndax Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Syndax Pharmaceuticals during the second quarter valued at about $27,000. Values First Advisors Inc. bought a new position in Syndax Pharmaceuticals in the 3rd quarter valued at about $30,000. Quantbot Technologies LP acquired a new position in Syndax Pharmaceuticals during the 3rd quarter valued at about $49,000. Mirae Asset Global Investments Co. Ltd. increased 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 in the last quarter. Finally, Quarry LP raised 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 purchasing an additional 2,625 shares during the last quarter.

Analyst Ratings Changes

SNDX has been the subject of several recent research reports. Stifel Nicolaus increased their price target on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Monday, October 14th. The Goldman Sachs Group raised their price target on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Scotiabank reduced their price objective on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 8th. StockNews.com downgraded shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. Finally, UBS Group assumed coverage on shares of Syndax Pharmaceuticals in a research report on Thursday, October 24th. They set a “buy” rating and a $37.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

Syndax Pharmaceuticals Price Performance

Shares of SNDX traded up $0.02 during trading hours on Friday, hitting $13.02. The stock had a trading volume of 205,322 shares, compared to its average volume of 1,746,820. The firm has a 50 day simple moving average of $14.93 and a 200-day simple moving average of $18.39. Syndax Pharmaceuticals has a 1-year low of $12.06 and a 1-year high of $25.34. The firm has a market capitalization of $1.11 billion, a P/E ratio of -3.58 and a beta of 0.89.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.13) by $0.15. The firm had revenue of $12.50 million for the quarter, compared to the consensus estimate of $9.16 million. During the same quarter in the prior year, the firm earned ($0.73) EPS. Equities analysts predict that Syndax Pharmaceuticals will post -3.71 EPS for the current fiscal year.

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).