Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Short Interest Update

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

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its stake 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 period. Northwestern Mutual Wealth Management Co. purchased a new stake in Syndax Pharmaceuticals in the second quarter worth approximately $27,000. Values First Advisors Inc. bought a new stake in Syndax Pharmaceuticals in the 3rd quarter worth approximately $30,000. Inspire Investing LLC raised its stake in Syndax Pharmaceuticals by 15.0% during the 2nd quarter. Inspire Investing LLC now owns 17,290 shares of the company’s stock valued at $355,000 after buying an additional 2,258 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Syndax Pharmaceuticals during the 3rd quarter valued at $49,000.

Syndax Pharmaceuticals Price Performance

NASDAQ SNDX traded up $0.20 during mid-day trading on Thursday, reaching $13.00. The stock had a trading volume of 1,460,048 shares, compared to its average volume of 1,904,135. The stock has a market cap of $1.11 billion, a PE ratio of -3.58 and a beta of 0.89. Syndax Pharmaceuticals has a 1 year low of $12.06 and a 1 year high of $25.34. The company has a fifty day moving average price of $15.10 and a 200 day moving average price of $18.43.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.13) by $0.15. The business had revenue of $12.50 million during the quarter, compared to analysts’ expectations of $9.16 million. During the same quarter in the prior year, the firm earned ($0.73) EPS. As a group, equities research analysts expect that Syndax Pharmaceuticals will post -3.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SNDX shares. HC Wainwright reiterated a “buy” rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday, December 10th. Stifel Nicolaus increased their price target on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. StockNews.com lowered shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. UBS Group initiated coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, October 24th. They set a “buy” rating and a $37.00 target price for the company. Finally, Citigroup lifted their target price on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Syndax Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $36.20.

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).