Syndax Pharmaceuticals (NASDAQ:SNDX) Reaches New 12-Month Low – Time to Sell?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $14.60 and last traded at $14.75, with a volume of 516175 shares. The stock had previously closed at $15.56.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SNDX shares. HC Wainwright reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Citigroup increased their price objective on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Bank of America boosted their target price on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, Barclays increased their price target on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.64.

Syndax Pharmaceuticals Price Performance

The business’s 50-day simple moving average is $18.22 and its two-hundred day simple moving average is $19.62. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -4.29 and a beta of 0.86.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released 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 for the quarter, compared to analyst estimates of $9.16 million. During the same period last year, the business earned ($0.73) EPS. Equities research analysts forecast that Syndax Pharmaceuticals, Inc. will post -2.39 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Syndax Pharmaceuticals during the 2nd quarter worth approximately $637,000. Assenagon Asset Management S.A. raised its stake in shares of Syndax Pharmaceuticals by 54.3% during the second quarter. Assenagon Asset Management S.A. now owns 428,949 shares of the company’s stock valued at $8,806,000 after acquiring an additional 151,021 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Syndax Pharmaceuticals by 18.9% during the second quarter. Bank of New York Mellon Corp now owns 291,826 shares of the company’s stock worth $5,991,000 after purchasing an additional 46,463 shares during the period. Peregrine Capital Management LLC grew its stake in shares of Syndax Pharmaceuticals by 1.3% in the second quarter. Peregrine Capital Management LLC now owns 198,659 shares of the company’s stock worth $4,078,000 after purchasing an additional 2,580 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in Syndax Pharmaceuticals in the second quarter valued at $33,000.

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).