Syndax Pharmaceuticals (NASDAQ:SNDX) Trading 6.7% Higher – What’s Next?

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) shot up 6.7% during mid-day trading on Thursday . The company traded as high as $15.72 and last traded at $15.74. Approximately 475,159 shares were traded during mid-day trading, a decline of 78% from the average session volume of 2,190,560 shares. The stock had previously closed at $14.75.

Analysts Set New Price Targets

A number of research analysts have commented on SNDX shares. JPMorgan Chase & Co. raised their price target on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Scotiabank reduced their price target on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 8th. UBS Group initiated coverage on shares of Syndax Pharmaceuticals in a research report on Thursday, October 24th. They issued a “buy” rating and a $37.00 price target on the stock. StockNews.com lowered shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.20.

Syndax Pharmaceuticals Price Performance

The company has a market capitalization of $1.34 billion, a P/E ratio of -4.32 and a beta of 0.90. The company’s 50-day moving average price is $13.87 and its two-hundred day moving average price is $17.00.

Insider Buying and Selling

In other news, 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 completion of the transaction, the chief executive officer now owns 300,121 shares of the company’s stock, valued at $4,651,875.50. This represents a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Neil Gallagher sold 4,618 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $71,579.00. Following the completion of the sale, the insider now owns 85,095 shares in the company, valued at $1,318,972.50. This trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,683 shares of company stock valued at $336,087. 4.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of large investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Syndax Pharmaceuticals by 23.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 170,100 shares of the company’s stock valued at $2,249,000 after buying an additional 32,653 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in Syndax Pharmaceuticals during the fourth quarter valued at about $1,045,000. Soleus Capital Management L.P. grew its stake in Syndax Pharmaceuticals by 128.4% during the fourth quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company’s stock valued at $32,944,000 after acquiring an additional 1,401,016 shares in the last quarter. Twinbeech Capital LP grew its position in shares of Syndax Pharmaceuticals by 79.2% during the 4th quarter. Twinbeech Capital LP now owns 355,900 shares of the company’s stock valued at $4,705,000 after purchasing an additional 157,321 shares in the last quarter. Finally, Tang Capital Management LLC purchased a new stake in shares of Syndax Pharmaceuticals in the 4th quarter valued at about $1,322,000.

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).