Syndax Pharmaceuticals Target of Unusually Large Options Trading (NASDAQ:SNDX)

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) saw some unusual options trading activity on Wednesday. Investors bought 6,251 put options on the stock. This represents an increase of approximately 435% compared to the typical volume of 1,168 put options.

Analyst Ratings Changes

Several brokerages have recently commented on SNDX. Scotiabank downgraded shares of Syndax Pharmaceuticals from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $36.00 to $23.00 in a report on Wednesday, January 31st. StockNews.com upgraded shares of Syndax Pharmaceuticals to a “sell” rating in a research report on Friday, January 19th. JPMorgan Chase & Co. increased their price target on shares of Syndax Pharmaceuticals from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Mizuho initiated coverage on shares of Syndax Pharmaceuticals in a research report on Friday, December 22nd. They set a “buy” rating and a $45.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and set a $41.00 price target on shares of Syndax Pharmaceuticals in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Syndax Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.42.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. grew its holdings in shares of Syndax Pharmaceuticals by 97.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,782 shares of the company’s stock worth $26,000 after purchasing an additional 880 shares during the last quarter. CWM LLC boosted its holdings in Syndax Pharmaceuticals by 415.3% in the fourth quarter. CWM LLC now owns 1,685 shares of the company’s stock valued at $36,000 after acquiring an additional 1,358 shares in the last quarter. MeadowBrook Investment Advisors LLC bought a new stake in Syndax Pharmaceuticals in the fourth quarter valued at $37,000. Point72 Hong Kong Ltd bought a new stake in shares of Syndax Pharmaceuticals during the 1st quarter valued at $41,000. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Syndax Pharmaceuticals by 158.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $53,000 after buying an additional 1,496 shares in the last quarter.

Syndax Pharmaceuticals Stock Up 3.2 %

Shares of NASDAQ:SNDX opened at $23.80 on Friday. The firm has a market capitalization of $2.02 billion, a PE ratio of -8.04 and a beta of 1.03. Syndax Pharmaceuticals has a twelve month low of $11.22 and a twelve month high of $25.34. The company has a 50-day moving average price of $22.39 and a two-hundred day moving average price of $18.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.01). During the same period in the previous year, the firm earned ($0.62) EPS. Analysts anticipate that Syndax Pharmaceuticals will post -3.7 earnings per share for the current fiscal year.

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).