Syndax Pharmaceuticals (NASDAQ:SNDX) Hits New 12-Month Low – Should You Sell?

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on SNDX. HC Wainwright restated a “buy” rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. Scotiabank dropped their target price on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 8th. 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. StockNews.com upgraded Syndax Pharmaceuticals to a “sell” rating in a report on Wednesday. Finally, Citigroup lowered their price objective on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Syndax Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

Syndax Pharmaceuticals Stock Performance

The stock has a market cap of $1.12 billion, a PE ratio of -3.57 and a beta of 0.92. The firm’s 50-day moving average is $14.23 and its 200 day moving average is $15.75.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.79). The business had revenue of $7.68 million during the quarter, compared to the consensus estimate of $86.32 million. On average, sell-side analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Insider Buying and Selling at Syndax Pharmaceuticals

In other news, CFO Keith A. Goldan sold 3,777 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 $58,543.50. Following the completion of the sale, the chief financial officer now directly owns 90,746 shares of the company’s stock, valued at $1,406,563. The trade was a 4.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Neil Gallagher sold 4,618 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 $71,579.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,683 shares of company stock worth $336,087. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SNDX. R Squared Ltd bought a new position in Syndax Pharmaceuticals in the 4th quarter worth approximately $26,000. Quantbot Technologies LP acquired a new stake in shares of Syndax Pharmaceuticals during the third quarter worth $49,000. Virtus ETF Advisers LLC lifted its stake in Syndax Pharmaceuticals by 18.6% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company’s stock valued at $70,000 after buying an additional 827 shares in the last quarter. Cape Investment Advisory Inc. grew its position in 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 purchasing an additional 3,927 shares in the last quarter. Finally, KBC Group NV raised 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 buying an additional 3,559 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).