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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 14,400,000 shares, an increase of 35.8% from the November 15th total of 10,600,000 shares. Based on an average trading volume of 1,480,000 shares, the days-to-cover ratio is presently 9.7 days.

Wall Street Analyst Weigh In

Several research firms have recently commented on SNDX. Stifel Nicolaus increased their target price on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Monday, October 14th. HC Wainwright reissued a “buy” rating and set a $51.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday, December 10th. JPMorgan Chase & Co. boosted their target price on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. UBS Group initiated coverage on Syndax Pharmaceuticals in a research report on Thursday, October 24th. They issued a “buy” rating and a $37.00 target price for the company. Finally, The Goldman Sachs Group upped their price target on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.64.

Syndax Pharmaceuticals Stock Up 3.4 %

NASDAQ SNDX traded up $0.46 during trading hours on Friday, hitting $13.93. The company had a trading volume of 3,875,184 shares, compared to its average volume of 2,072,802. Syndax Pharmaceuticals has a fifty-two week low of $13.26 and a fifty-two week high of $25.34. The firm has a market cap of $1.19 billion, a P/E ratio of -3.84 and a beta of 0.86. The business has a fifty day simple moving average of $17.81 and a 200-day simple moving average of $19.45.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.13) by $0.15. The firm had revenue of $12.50 million during the quarter, compared to the consensus estimate of $9.16 million. During the same quarter in the prior year, the business earned ($0.73) earnings per share. Equities analysts forecast that Syndax Pharmaceuticals will post -2.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the business. State Street Corp lifted its holdings in Syndax Pharmaceuticals by 4.1% in the third quarter. State Street Corp now owns 3,770,826 shares of the company’s stock worth $72,588,000 after purchasing an additional 148,491 shares during the period. Sofinnova Investments Inc. raised its position in shares of Syndax Pharmaceuticals by 33.9% during the 2nd quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock worth $44,215,000 after buying an additional 545,129 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Syndax Pharmaceuticals by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company’s stock worth $38,066,000 after acquiring an additional 66,459 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Syndax Pharmaceuticals by 13.4% in the third quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock valued at $34,948,000 after acquiring an additional 208,043 shares in the last quarter. Finally, First Turn Management LLC increased its stake in shares of Syndax Pharmaceuticals by 85.4% during the third quarter. First Turn Management LLC now owns 1,187,165 shares of the company’s stock valued at $22,853,000 after acquiring an additional 546,776 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).