Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Gap Down to $24.49

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s share price gapped down before the market opened on Monday . The stock had previously closed at $24.49, but opened at $20.97. Syndax Pharmaceuticals shares last traded at $21.96, with a volume of 128,001 shares.

Analysts Set New Price Targets

SNDX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $34.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 21st. Jefferies Financial Group started coverage on shares of Syndax Pharmaceuticals in a report on Friday, June 28th. They issued a “buy” rating and a $37.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $41.00 price target on shares of Syndax Pharmaceuticals in a report on Monday, June 17th. Scotiabank downgraded Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, Citigroup decreased their target price on Syndax Pharmaceuticals from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.73.

Syndax Pharmaceuticals Stock Performance

The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -6.82 and a beta of 0.94. The stock has a 50-day moving average of $20.99 and a 200-day moving average of $21.75.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.85) earnings per share for the quarter, topping the consensus estimate of ($0.96) by $0.11. During the same quarter in the prior year, the firm earned ($0.59) EPS. Sell-side analysts predict that Syndax Pharmaceuticals, Inc. will post -3.49 EPS for the current fiscal year.

Insider Buying and Selling at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CFO Keith A. Goldan acquired 1,250 shares of Syndax Pharmaceuticals stock in a transaction dated Friday, June 14th. The stock was bought at an average cost of $20.03 per share, for a total transaction of $25,037.50. Following the purchase, the chief financial officer now directly owns 52,623 shares in the company, valued at approximately $1,054,038.69. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SNDX. CWM LLC grew its stake in shares of Syndax Pharmaceuticals by 415.3% in the fourth quarter. CWM LLC now owns 1,685 shares of the company’s stock valued at $36,000 after buying an additional 1,358 shares in the last quarter. MeadowBrook Investment Advisors LLC bought a new position in shares of Syndax Pharmaceuticals in the 4th quarter valued at about $37,000. Quadrant Capital Group LLC increased its stake in shares of Syndax Pharmaceuticals by 158.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock worth $53,000 after purchasing an additional 1,496 shares during the last quarter. Signaturefd LLC increased its stake in shares of Syndax Pharmaceuticals by 2,874.6% during the 4th quarter. Signaturefd LLC now owns 3,748 shares of the company’s stock worth $81,000 after purchasing an additional 3,622 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of Syndax Pharmaceuticals by 28.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 7,182 shares of the company’s stock valued at $171,000 after purchasing an additional 1,587 shares during the period.

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).