This trade activity should not be overlooked: Syndax Pharmaceuticals Inc. (SNDX)

Syndax Pharmaceuticals Inc. (NASDAQ: SNDX) stock fell -1.62% on Tuesday to $21.90 against a previous-day closing price of $22.26. With 1.14 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.87 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $23.05 whereas the lowest price it dropped to was $21.60. The 52-week range on SNDX shows that it touched its highest point at $29.86 and its lowest point at $13.82 during that stretch. It currently has a 1-year price target of $34.00. Beta for the stock currently stands at 1.12.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SNDX was up-trending over the past week, with a rise of 3.74%, but this was up by 2.91% over a month. Three-month performance dropped to -13.78% while six-month performance fell -0.99%. The stock gained 49.39% in the past year, while it has lost -13.95% so far this year. A look at the trailing 12-month EPS for SNDX yields -2.42 with Next year EPS estimates of -3.00. For the next quarter, that number is -0.73. This implies an EPS growth rate of -628.70% for this year and 2.30% for next year.

Float and Shares Shorts:

At present, 69.44 million SNDX shares are outstanding with a float of 57.43 million shares on hand for trading. On Apr 27, 2023, short shares totaled 6.52 million, which was 9.53% higher than short shares on Mar 30, 2023. In addition to Mr. Michael A. Metzger M.B.A. as the firm’s CEO & Director, Mr. Keith Alan Goldan CPA serves as its CFO, Treasurer & Chief Accounting Officer.

Institutional Ownership:

Through their ownership of 106.99% of SNDX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 62.36% of SNDX, in contrast to 33.68% held by mutual funds. Shares owned by individuals account for 10.20%. As the largest shareholder in SNDX with 10.23% of the stake, Wellington Management Co. LLP holds 7,003,734 shares worth 7,003,734. A second-largest stockholder of SNDX, Avidity Partners Management LP, holds 5,861,000 shares, controlling over 8.56% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in SNDX, holding 4,382,798 shares or 6.40% stake. With a 4.52% stake in SNDX, the Vanguard Health Care Fund is the largest stakeholder. A total of 3,092,082 shares are owned by the mutual fund manager. The SPDR S&P Biotech ETF, which owns about 3.56% of SNDX stock, is the second-largest Mutual Fund holder. It holds 2,437,517 shares valued at 50.09 million. Vanguard Total Stock Market ETF holds 2.92% of the stake in SNDX, owning 1,997,385 shares worth 41.05 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, SNDX reported revenue of $0.00 and operating income of -$37.72M. The EBITDA in the recently reported quarter was -$36.87M and diluted EPS was -$0.62.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SNDX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SNDX analysts setting a high price target of $37.00 and a low target of $31.00, the average target price over the next 12 months is $33.78. Based on these targets, SNDX could surge 68.95% to reach the target high and rise by 41.55% to reach the target low. Reaching the average price target will result in a growth of 54.25% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded SNDX stock several times over the past three months with 2 Buys and 2 Sells. In these transactions, 105,709 shares were bought while 105,709 shares were sold. The number of buy transactions has increased to 51 while that of sell transactions has risen to 43 over the past year. The total number of shares bought during that period was 1,143,287 while 1,027,817 shares were sold.

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