Syndax Pharmaceuticals (NASDAQ:SNDX) Sets New 52-Week Low – Time to Sell?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) shares reached a new 52-week low on Tuesday . The stock traded as low as $11.69 and last traded at $11.81, with a volume of 60622 shares trading hands. The stock had previously closed at $12.29.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SNDX. 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 report on Thursday, March 20th. 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. HC Wainwright reiterated a “buy” rating and set a $51.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. Finally, Citigroup reduced their target price on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.20.

Syndax Pharmaceuticals Stock Performance

The stock has a fifty day moving average of $14.28 and a 200-day moving average of $15.82. The company has a market cap of $1.02 billion, a PE ratio of -3.26 and a beta of 0.92.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its earnings results on Monday, March 3rd. The company reported ($1.10) earnings per share (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 analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 directly owns 85,095 shares of the company’s stock, valued at $1,318,972.50. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael A. Metzger sold 13,288 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $205,964.00. Following the transaction, the chief executive officer now directly 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. Insiders have sold a total of 21,683 shares of company stock valued at $336,087 over the last quarter. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. R Squared Ltd purchased a new position in shares of Syndax Pharmaceuticals in the 4th quarter valued at $26,000. Quantbot Technologies LP bought a new stake in shares of Syndax Pharmaceuticals in the 3rd quarter valued at about $49,000. Virtus ETF Advisers LLC grew its position 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. Cape Investment Advisory Inc. raised its stake in shares of Syndax Pharmaceuticals by 157.1% during the 4th quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company’s stock worth $85,000 after acquiring an additional 3,927 shares in the last quarter. Finally, KBC Group NV lifted its position in Syndax Pharmaceuticals by 104.8% during the fourth quarter. KBC Group NV now owns 6,954 shares of the company’s stock valued at $92,000 after acquiring an additional 3,559 shares during the last quarter.

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).