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

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) gapped down prior to trading 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.

Analyst Ratings Changes

SNDX has been the topic of several research reports. Stifel Nicolaus lifted their price objective on Syndax Pharmaceuticals from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Citigroup dropped their price target on Syndax Pharmaceuticals from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Jefferies Financial Group began coverage on Syndax Pharmaceuticals in a report on Friday, June 28th. They issued a “buy” rating and a $37.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $41.00 target price on shares of Syndax Pharmaceuticals in a report on Monday, June 17th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $34.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Syndax Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $34.73.

Syndax Pharmaceuticals Trading Down 14.1 %

The stock’s 50 day moving average is $20.99 and its 200-day moving average is $21.75. The company has a market cap of $1.79 billion, a P/E ratio of -6.82 and a beta of 0.94.

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

Insider Buying and Selling

In other Syndax Pharmaceuticals news, CFO Keith A. Goldan bought 1,250 shares of the business’s stock in a transaction on Friday, June 14th. The shares were acquired 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 owns 52,623 shares in the company, valued at approximately $1,054,038.69. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of hedge funds have recently bought and sold shares of SNDX. Arizona State Retirement System grew its stake in shares of Syndax Pharmaceuticals by 5.3% in the fourth quarter. Arizona State Retirement System now owns 16,511 shares of the company’s stock worth $357,000 after acquiring an additional 835 shares during the period. Sei Investments Co. boosted its holdings in Syndax Pharmaceuticals by 2.5% in the first quarter. Sei Investments Co. now owns 40,463 shares of the company’s stock worth $963,000 after purchasing an additional 991 shares during the last quarter. California State Teachers Retirement System grew its position in Syndax Pharmaceuticals by 1.5% in the 1st quarter. California State Teachers Retirement System now owns 76,557 shares of the company’s stock worth $1,822,000 after purchasing an additional 1,150 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Syndax Pharmaceuticals by 9.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,126 shares of the company’s stock valued at $305,000 after buying an additional 1,162 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Syndax Pharmaceuticals by 20.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,858 shares of the company’s stock valued at $187,000 after buying an additional 1,312 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).