Syndax Pharmaceuticals (NASDAQ:SNDX) Hits New 12-Month Low – Here’s Why

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $11.01 and last traded at $11.28, with a volume of 312 shares traded. The stock had previously closed at $11.25.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $51.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. JPMorgan Chase & Co. raised their price objective on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Citigroup reduced their target price on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. StockNews.com upgraded Syndax Pharmaceuticals to a “sell” rating in a research note on Wednesday, April 2nd. Finally, Scotiabank reduced their price objective on Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 8th. One investment 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. Based on data from MarketBeat.com, Syndax Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

Syndax Pharmaceuticals Stock Performance

The firm has a market capitalization of $934.01 million, a PE ratio of -2.99 and a beta of 1.28. The business’s 50 day moving average is $14.13 and its two-hundred day moving average is $15.65.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Monday, March 3rd. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.79). The firm had revenue of $7.68 million for the quarter, compared to analysts’ expectations of $86.32 million. As a group, equities research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Insider Activity at Syndax Pharmaceuticals

In related news, CFO Keith A. Goldan sold 3,777 shares of Syndax Pharmaceuticals stock in a transaction on Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $58,543.50. Following the sale, the chief financial officer now owns 90,746 shares in the company, valued at $1,406,563. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael A. Metzger sold 13,288 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $15.50, for a total value of $205,964.00. Following the transaction, the chief executive officer now owns 300,121 shares in the company, valued at $4,651,875.50. This trade represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,683 shares of company stock valued at $336,087. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SNDX. Virtus ETF Advisers LLC grew its stake in shares of Syndax Pharmaceuticals by 18.6% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company’s stock worth $70,000 after buying an additional 827 shares during the last quarter. E Fund Management Co. Ltd. lifted its stake in shares of Syndax Pharmaceuticals by 14.4% in the fourth quarter. E Fund Management Co. Ltd. now owns 12,603 shares of the company’s stock worth $167,000 after buying an additional 1,583 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Syndax Pharmaceuticals by 10.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,099 shares of the company’s stock valued at $239,000 after buying an additional 1,732 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Syndax Pharmaceuticals by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,748 shares of the company’s stock worth $706,000 after acquiring an additional 1,811 shares during the last quarter. Finally, R Squared Ltd purchased a new position in Syndax Pharmaceuticals in the 4th quarter worth approximately $26,000.

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).