Syndax Pharmaceuticals Inc (NASDAQ:SNDX) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 2,075,485 shares, an increase of 59.6% from the May 31st total of 1,300,054 shares. Currently, 10.7% of the company’s shares are sold short. Based on an average daily trading volume, of 366,299 shares, the short-interest ratio is presently 5.7 days.
In other Syndax Pharmaceuticals news, insider Peter Ordentlich sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $15.00, for a total transaction of $112,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.90% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new stake in shares of Syndax Pharmaceuticals in the 1st quarter valued at $4,269,000. Sofinnova Ventures Inc bought a new stake in shares of Syndax Pharmaceuticals in the 1st quarter valued at $173,000. The Manufacturers Life Insurance Company increased its stake in shares of Syndax Pharmaceuticals by 266.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 10,566 shares of the company’s stock valued at $151,000 after acquiring an additional 7,686 shares in the last quarter. Opaleye Management Inc. bought a new stake in shares of Syndax Pharmaceuticals in the 1st quarter valued at $3,166,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Syndax Pharmaceuticals by 77.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 397,579 shares of the company’s stock valued at $5,658,000 after acquiring an additional 173,821 shares in the last quarter. Institutional investors own 69.50% of the company’s stock.
Syndax Pharmaceuticals stock opened at $7.02 on Friday. Syndax Pharmaceuticals has a 52-week low of $6.61 and a 52-week high of $15.20. The company has a market cap of $173.93 million, a price-to-earnings ratio of -2.42 and a beta of 1.14.
Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Tuesday, May 8th. The company reported ($0.79) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.96) by $0.17. The firm had revenue of $0.38 million during the quarter. Syndax Pharmaceuticals had a negative net margin of 3,081.07% and a negative return on equity of 67.69%. sell-side analysts forecast that Syndax Pharmaceuticals will post -3.55 earnings per share for the current year.
Several research analysts have issued reports on SNDX shares. ValuEngine upgraded shares of Syndax Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 20th. Morgan Stanley lowered their price target on shares of Syndax Pharmaceuticals from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Wednesday, March 14th. BidaskClub lowered shares of Syndax Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, April 11th. Zacks Investment Research lowered shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, May 9th. Finally, TheStreet lowered shares of Syndax Pharmaceuticals from a “c-” rating to a “d” rating in a report on Friday, April 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $23.86.
Syndax Pharmaceuticals Company Profile
Syndax Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapies for various cancer indications. The company's lead product candidate is Entinostat, which is in Phase 3 clinical trial for the treatment of hormone receptor positive or HR+, human epidermal growth factor receptor 2 negative or HER2-, and breast cancer; and Phase 1b/2 clinical trial.
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