Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Short Interest Up 35.8% in November

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) saw a significant increase in short interest during the month of 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 daily volume of 1,480,000 shares, the short-interest ratio is presently 9.7 days.

Analyst Ratings Changes

A number of brokerages recently weighed in on SNDX. Citigroup raised their target price on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. lifted their price objective on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. HC Wainwright reissued a “buy” rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 10th. StockNews.com lowered Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. Finally, Stifel Nicolaus increased their price objective on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.64.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of SNDX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Syndax Pharmaceuticals in the third quarter worth about $15,165,000. Eventide Asset Management LLC purchased a new stake in Syndax Pharmaceuticals in the 3rd quarter worth approximately $15,150,000. First Turn Management LLC bought a new stake in shares of Syndax Pharmaceuticals in the 2nd quarter worth approximately $13,147,000. Sofinnova Investments Inc. increased its stake in shares of Syndax Pharmaceuticals by 33.9% during the second quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock valued at $44,215,000 after buying an additional 545,129 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Syndax Pharmaceuticals by 56.3% during the second quarter. Millennium Management LLC now owns 1,065,508 shares of the company’s stock valued at $21,875,000 after acquiring an additional 383,634 shares in the last quarter.

Syndax Pharmaceuticals Price Performance

Syndax Pharmaceuticals stock traded up $0.46 during trading hours on Friday, reaching $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 12-month low of $13.26 and a 12-month high of $25.34. The company has a 50-day moving average price of $17.81 and a 200 day moving average price of $19.46. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -3.84 and a beta of 0.86.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its 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 firm 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 earned ($0.73) earnings per share. As a group, research analysts expect that Syndax Pharmaceuticals will post -2.39 earnings per share for the current 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).