Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Price Down 3.7% - Should You Sell?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report)'s share price dropped 3.7% during mid-day trading on Thursday . The stock traded as low as $10.36 and last traded at $10.50. Approximately 230,731 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 2,205,677 shares. The stock had previously closed at $10.90.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SNDX shares. Citigroup reduced their target price on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Wall Street Zen raised shares of Syndax Pharmaceuticals to a "sell" rating in a research note on Tuesday, May 6th. Scotiabank raised their price objective on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a "sector perform" rating in a research report on Tuesday, May 6th. HC Wainwright reaffirmed a "buy" rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $35.91.

Syndax Pharmaceuticals Stock Down 3.8%

The stock has a market capitalization of $882.84 million, a price-to-earnings ratio of -2.82 and a beta of 0.74. The stock has a fifty day moving average of $11.24 and a 200-day moving average of $13.12.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.04) by $0.06. The firm had revenue of $20.04 million for the quarter, compared to analysts' expectations of $15.88 million. During the same quarter in the prior year, the business earned ($0.85) EPS. The company's quarterly revenue was up 1900.0% compared to the same quarter last year. On average, equities analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SNDX. State of New Jersey Common Pension Fund D lifted its stake in shares of Syndax Pharmaceuticals by 40.5% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 133,111 shares of the company's stock valued at $1,760,000 after buying an additional 38,339 shares during the period. Y Intercept Hong Kong Ltd raised its holdings in Syndax Pharmaceuticals by 2.5% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 83,297 shares of the company's stock valued at $1,101,000 after acquiring an additional 1,995 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Syndax Pharmaceuticals by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 224,261 shares of the company's stock worth $2,965,000 after purchasing an additional 2,759 shares during the period. Cape Investment Advisory Inc. boosted its holdings in shares of Syndax Pharmaceuticals by 157.1% during the fourth 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Syndax Pharmaceuticals by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 704,823 shares of the company's stock worth $9,318,000 after purchasing an additional 8,876 shares during 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).