Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Short Interest Up 30.3% in December

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 21,310,000 shares, an increase of 30.3% from the December 15th total of 16,360,000 shares. Based on an average daily trading volume, of 1,990,000 shares, the short-interest ratio is presently 10.7 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Syndax Pharmaceuticals during the 2nd quarter worth approximately $27,000. Values First Advisors Inc. bought a new stake in shares of Syndax Pharmaceuticals in the third quarter valued at approximately $30,000. Quantbot Technologies LP acquired a new stake in Syndax Pharmaceuticals during the third quarter worth about $49,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Syndax Pharmaceuticals by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock worth $58,000 after acquiring an additional 541 shares during the last quarter. Finally, Quarry LP boosted its position in Syndax Pharmaceuticals by 75.0% in the second quarter. Quarry LP now owns 6,125 shares of the company’s stock valued at $126,000 after buying an additional 2,625 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SNDX shares. UBS Group started coverage on shares of Syndax Pharmaceuticals in a report on Thursday, October 24th. They set a “buy” rating and a $37.00 target price on the stock. StockNews.com cut shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 23rd. Citigroup raised their target price on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price target on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, HC Wainwright restated a “buy” rating and set a $51.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

Syndax Pharmaceuticals Trading Up 0.6 %

NASDAQ SNDX traded up $0.08 on Friday, reaching $13.08. The company’s stock had a trading volume of 1,136,085 shares, compared to its average volume of 2,537,817. The firm has a market cap of $1.12 billion, a PE ratio of -3.60 and a beta of 0.89. Syndax Pharmaceuticals has a 52 week low of $12.06 and a 52 week high of $25.34. The business has a 50-day moving average price of $14.75 and a 200 day moving average price of $18.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced 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 business had revenue of $12.50 million for the quarter, compared to the consensus estimate of $9.16 million. During the same quarter in the previous year, the company posted ($0.73) EPS. Analysts anticipate that Syndax Pharmaceuticals will post -3.71 earnings per share for the current fiscal year.

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).