Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Short Interest Update

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) saw a large increase in short interest in 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.

Syndax Pharmaceuticals Stock Performance

SNDX stock traded up $0.08 during trading on Friday, reaching $13.08. 1,136,085 shares of the company traded hands, compared to its average volume of 2,537,817. The business has a 50 day simple moving average of $14.75 and a 200 day simple moving average of $18.34. Syndax Pharmaceuticals has a 12 month low of $12.06 and a 12 month high of $25.34. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -3.60 and a beta of 0.89.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.13) by $0.15. The company had revenue of $12.50 million during the quarter, compared to analysts’ expectations of $9.16 million. During the same period in the previous year, the firm posted ($0.73) EPS. As a group, research analysts forecast that Syndax Pharmaceuticals will post -3.71 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Rhumbline Advisers raised its stake in Syndax Pharmaceuticals by 9.4% during the 2nd quarter. Rhumbline Advisers now owns 119,285 shares of the company’s stock worth $2,449,000 after acquiring an additional 10,291 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of Syndax Pharmaceuticals in the second quarter valued at about $201,000. Renaissance Technologies LLC boosted its stake in shares of Syndax Pharmaceuticals by 170.9% during the 2nd quarter. Renaissance Technologies LLC now owns 214,300 shares of the company’s stock worth $4,400,000 after acquiring an additional 135,200 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Syndax Pharmaceuticals by 10.1% in the 2nd quarter. Hsbc Holdings PLC now owns 43,597 shares of the company’s stock worth $884,000 after buying an additional 4,006 shares in the last quarter. Finally, Seven Eight Capital LP grew its position in shares of Syndax Pharmaceuticals by 688.2% in the second quarter. Seven Eight Capital LP now owns 75,971 shares of the company’s stock valued at $1,560,000 after purchasing an additional 66,332 shares during the last quarter.

Analysts Set New Price Targets

SNDX has been the subject of a number of research analyst reports. 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. JPMorgan Chase & Co. lifted their target price on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Citigroup lifted their target price on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Stifel Nicolaus raised their target price on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, StockNews.com lowered Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

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).