Syndax Pharmaceuticals (SNDX) Trading 6.2% Higher
Syndax Pharmaceuticals Inc (NASDAQ:SNDX) traded up 6.2% during trading on Thursday . The stock traded as high as $11.19 and last traded at $10.58. 594,377 shares traded hands during trading, an increase of 47% from the average session volume of 405,146 shares. The stock had previously closed at $9.96.
Several equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Syndax Pharmaceuticals from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Wednesday, January 10th. BidaskClub upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, B. Riley began coverage on shares of Syndax Pharmaceuticals in a research note on Friday, January 5th. They issued a “buy” rating and a $40.00 target price on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $24.38.
The company has a market cap of $294.88 and a P/E ratio of -4.00.
Hedge funds and other institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund lifted its stake in shares of Syndax Pharmaceuticals by 421.9% in the second quarter. New York State Common Retirement Fund now owns 9,400 shares of the company’s stock worth $131,000 after buying an additional 7,599 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Syndax Pharmaceuticals during the third quarter valued at approximately $133,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Syndax Pharmaceuticals during the third quarter valued at approximately $154,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Syndax Pharmaceuticals during the third quarter valued at approximately $163,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Syndax Pharmaceuticals during the second quarter valued at approximately $192,000. Hedge funds and other institutional investors own 61.65% 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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