Syndax Pharmaceuticals Inc (NASDAQ:SNDX) Short Interest Down 10.3% in June

Syndax Pharmaceuticals Inc (NASDAQ:SNDX) saw a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 653,100 shares, a decrease of 10.3% from the May 30th total of 728,100 shares. Based on an average trading volume of 170,000 shares, the short-interest ratio is currently 3.8 days. Currently, 3.3% of the shares of the stock are short sold.

NASDAQ:SNDX traded up $0.12 on Friday, hitting $8.99. The company had a trading volume of 132,877 shares, compared to its average volume of 186,269. The stock has a market cap of $243.59 million, a PE ratio of -3.08 and a beta of 2.41. The company has a quick ratio of 6.24, a current ratio of 6.24 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average price is $8.31. Syndax Pharmaceuticals has a 52 week low of $3.39 and a 52 week high of $9.66.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Monday, May 6th. The company reported ($0.53) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.03. The business had revenue of $0.38 million during the quarter, compared to the consensus estimate of $0.38 million. Syndax Pharmaceuticals had a negative net margin of 4,539.55% and a negative return on equity of 107.48%. As a group, equities analysts expect that Syndax Pharmaceuticals will post -1.98 earnings per share for the current fiscal year.

Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Garrett Motion from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. ValuEngine raised shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $14.61.

In related news, CEO Briggs Morrison acquired 20,400 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average price of $7.46 per share, with a total value of $152,184.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 8.30% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of SNDX. Northern Trust Corp increased its position in Syndax Pharmaceuticals by 1.6% in the 4th quarter. Northern Trust Corp now owns 175,492 shares of the company’s stock valued at $781,000 after acquiring an additional 2,690 shares during the period. Rhumbline Advisers increased its position in Syndax Pharmaceuticals by 38.1% in the 4th quarter. Rhumbline Advisers now owns 19,410 shares of the company’s stock valued at $86,000 after acquiring an additional 5,350 shares during the period. Squarepoint Ops LLC increased its position in Syndax Pharmaceuticals by 51.3% in the 4th quarter. Squarepoint Ops LLC now owns 18,601 shares of the company’s stock valued at $83,000 after acquiring an additional 6,303 shares during the period. Geode Capital Management LLC increased its position in Syndax Pharmaceuticals by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 180,199 shares of the company’s stock valued at $801,000 after acquiring an additional 6,768 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Syndax Pharmaceuticals in the 1st quarter valued at approximately $55,000. 62.64% of the stock is owned by institutional investors and hedge funds.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. The company's lead product candidates include entinostat, which is in Phase III clinical trials for the treatment of advanced hormone receptor positive (HR+) and human epidermal growth factor receptor 2 negative (HER2-) breast cancer; and SNDX-5613 inhibitor that targets the binding interaction of Menin with mixed lineage leukemia-rearranged and acute myeloid leukemia with a mutated nucleophosmin 1.

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