Syndax Pharmaceuticals Inc (SNDX) can make a big difference with a little luck

Syndax Pharmaceuticals Inc (NASDAQ: SNDX) stock jumped 3.11% on Friday to $15.27 against a previous-day closing price of $14.81. With 0.75 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.7 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $15.34 whereas the lowest price it dropped to was $14.88. The 52-week range on SNDX shows that it touched its highest point at $29.86 and its lowest point at $11.22 during that stretch. It currently has a 1-year price target of $35.17. Beta for the stock currently stands at 1.02.

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 12.69%, but this was up by 31.52% over a month. Three-month performance dropped to -17.41% while six-month performance fell -29.60%. The stock lost -27.15% in the past year, while it has lost -40.00% so far this year. A look at the trailing 12-month EPS for SNDX yields -2.59 with Next year EPS estimates of -3.09. For the next quarter, that number is -0.98. This implies an EPS growth rate of -20.60% for this year and -4.25% for next year.

Float and Shares Shorts:

At present, 68.11 million SNDX shares are outstanding with a float of 66.27 million shares on hand for trading. On Oct 30, 2023, short shares totaled 9.98 million, which was 14.33% higher than short shares on Sep 28, 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 107.18% of SNDX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 67.29% of SNDX, in contrast to 32.13% held by mutual funds. Shares owned by individuals account for 10.05%. As the largest shareholder in SNDX with 11.00% of the stake, Wellington Management Co. LLP holds 7,642,446 shares worth 7,642,446. A second-largest stockholder of SNDX, BlackRock Fund Advisors, holds 4,922,393 shares, controlling over 7.08% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in SNDX, holding 3,600,648 shares or 5.18% stake. With a 4.45% 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 3.54% of SNDX stock, is the second-largest Mutual Fund holder. It holds 2,462,265 shares valued at 34.67 million. Vanguard Total Stock Market ETF holds 2.99% of the stake in SNDX, owning 2,077,785 shares worth 29.26 million.

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 $43.00 and a low target of $28.00, the average target price over the next 12 months is $35.17. Based on these targets, SNDX could surge 181.6% to reach the target high and rise by 83.37% to reach the target low. Reaching the average price target will result in a growth of 130.32% from current levels.

Summary of Insider Activity:

Insiders traded SNDX stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 27 while that of sell transactions has risen to 22 over the past year. The total number of shares bought during that period was 660,011 while 548,588 shares were sold.