Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Price Up 6.7% – Here’s What Happened

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s stock price shot up 6.7% on Thursday . The stock traded as high as $15.72 and last traded at $15.74. 475,159 shares traded hands during 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

Several equities analysts have issued reports on SNDX shares. UBS Group started coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, October 24th. They issued a “buy” rating and a $37.00 price objective for the company. The Goldman Sachs Group upped their price objective on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. StockNews.com downgraded shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 23rd. HC Wainwright restated a “buy” rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. raised their price target on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. One equities 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $36.20.

Syndax Pharmaceuticals Stock Up 6.6 %

The stock has a 50 day simple moving average of $13.87 and a 200 day simple moving average of $17.00. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -4.32 and a beta of 0.90.

Insider Buying and Selling at Syndax Pharmaceuticals

In related news, CFO Keith A. Goldan sold 3,777 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction of $58,543.50. Following the completion of the transaction, the chief financial officer now directly owns 90,746 shares in the company, valued at $1,406,563. This represents a 4.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Neil Gallagher sold 4,618 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $71,579.00. Following the transaction, the insider now directly owns 85,095 shares of the company’s stock, valued at approximately $1,318,972.50. This trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,683 shares of company stock worth $336,087 over the last quarter. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Syndax Pharmaceuticals during the fourth quarter worth about $26,000. Values First Advisors Inc. purchased a new position in Syndax Pharmaceuticals in the 3rd quarter worth about $30,000. Quantbot Technologies LP acquired a new position in shares of Syndax Pharmaceuticals in the 3rd quarter valued at about $49,000. Mirae Asset Global Investments Co. Ltd. grew its position in Syndax Pharmaceuticals by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock valued at $58,000 after purchasing an additional 541 shares in the last quarter. Finally, Virtus ETF Advisers LLC lifted its position in 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 in the last quarter.

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).