Syndax Pharmaceuticals Inc (NASDAQ:SNDX) shares saw unusually-high trading volume on Wednesday . Approximately 2,542,051 shares changed hands during mid-day trading, an increase of 499% from the previous session’s volume of 424,281 shares.The stock last traded at $13.58 and had previously closed at $10.58.
SNDX has been the topic of a number of research analyst reports. Zacks Investment Research lowered Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. B. Riley reissued a “buy” rating and issued a $40.00 price target on shares of Syndax Pharmaceuticals in a research note on Thursday, January 18th. BidaskClub raised Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Finally, Morgan Stanley decreased their price target on Syndax Pharmaceuticals from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $24.25.
The stock has a market capitalization of $331.22 and a P/E ratio of -4.70.
Several institutional investors have recently added to or reduced their stakes in the company. BVF Inc. IL purchased a new position in shares of Syndax Pharmaceuticals in the 4th quarter worth about $28,326,000. Millennium Management LLC raised its holdings in shares of Syndax Pharmaceuticals by 18.9% in the 4th quarter. Millennium Management LLC now owns 516,500 shares of the company’s stock worth $4,525,000 after purchasing an additional 82,256 shares during the period. Vanguard Group Inc. raised its holdings in shares of Syndax Pharmaceuticals by 25.1% in the 2nd quarter. Vanguard Group Inc. now owns 512,624 shares of the company’s stock worth $7,161,000 after purchasing an additional 102,700 shares during the period. Alyeska Investment Group L.P. raised its holdings in shares of Syndax Pharmaceuticals by 1.8% in the 3rd quarter. Alyeska Investment Group L.P. now owns 330,910 shares of the company’s stock worth $3,872,000 after purchasing an additional 5,910 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Syndax Pharmaceuticals by 17.4% in the 4th quarter. Geode Capital Management LLC now owns 153,483 shares of the company’s stock worth $1,344,000 after purchasing an additional 22,803 shares during the period. Institutional investors own 70.35% of the company’s stock.
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About Syndax Pharmaceuticals
Syndax Pharmaceuticals, Inc (Syndax) is a clinical stage biopharmaceutical company focused on developing a pipeline of combination therapies in multiple cancer indications. The Company’s product candidate, entinostat, which was granted Breakthrough Therapy designation by the FDA following positive results from its Phase IIb clinical trial, ENCORE 301, is being evaluated in a Phase III clinical trial for advanced hormone receptor positive breast cancer.
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