Syndax Pharmaceuticals Inc (NASDAQ:SNDX) saw a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 1,004,865 shares, an increase of 45.0% from the November 15th total of 693,241 shares. Based on an average trading volume of 345,198 shares, the days-to-cover ratio is presently 2.9 days. Approximately 6.5% of the shares of the company are short sold.

Syndax Pharmaceuticals (NASDAQ:SNDX) opened at $9.00 on Friday. Syndax Pharmaceuticals has a 52 week low of $6.31 and a 52 week high of $15.70.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Tuesday, November 7th. The company reported ($0.68) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.80) by $0.12. The business had revenue of $0.31 million during the quarter, compared to analyst estimates of $0.30 million. Syndax Pharmaceuticals had a negative return on equity of 57.90% and a negative net margin of 4,304.34%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the business posted ($0.84) EPS. research analysts expect that Syndax Pharmaceuticals will post -3.03 EPS for the current year.

Separately, Zacks Investment Research cut Syndax Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating and eight have assigned a buy rating to the stock. Syndax Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $23.13.

Several institutional investors have recently made changes to their positions in the stock. FMR LLC increased its stake in shares of Syndax Pharmaceuticals by 7.3% in the 2nd quarter. FMR LLC now owns 1,341,644 shares of the company’s stock valued at $18,743,000 after purchasing an additional 91,328 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of Syndax Pharmaceuticals in the 2nd quarter valued at about $13,325,000. Vanguard Group Inc. increased its stake 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 valued at $7,161,000 after purchasing an additional 102,700 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Syndax Pharmaceuticals by 11,266.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 439,070 shares of the company’s stock valued at $6,134,000 after purchasing an additional 435,207 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its stake 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 valued at $3,872,000 after purchasing an additional 5,910 shares in the last quarter. Hedge funds and other institutional investors own 61.69% of the company’s stock.

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Syndax Pharmaceuticals Company Profile

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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