Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Syndax Pharmaceuticals Inc. shares valued at $665,393 were sold by Metzger Michael A on Jul 25. At $21.06 per share, Metzger Michael A sold 31,602 shares. The insider’s holdings dropped to 17,659 shares worth approximately $0.4 million following the completion of this transaction.
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Also, Metzger Michael A sold 100 shares, netting a total of over 2,100 in proceeds. Following the sale of shares at $21.00 each, the insider now holds 17,659 shares.
Before that, Metzger Michael A had sold 15,009 shares from its account. In a trade valued at $316,307, the Chief Executive Officer traded Syndax Pharmaceuticals Inc. shares for $21.07 each. Upon closing the transaction, the insider’s holdings decreased to 15,009 shares, worth approximately $0.4 million.
Analysts at H.C. Wainwright started covering the stock with ‘”a Buy”‘ outlook in a report released in mid April. As of February 15, 2022, Goldman has initiated its “Buy” rating for SNDX.
Analyzing SNDX’s Price Performance
On Thursday, Syndax Pharmaceuticals Inc. [NASDAQ: SNDX] rose 8.15% to $22.70. The stock’s lowest price that day was $21.005, but it reached a high of $22.76 in the same session. During the last five days, there has been a surge of approximately 7.38%. Over the course of the year, Syndax Pharmaceuticals Inc. shares have jumped approximately 3.70%. Shares of the company reached a 52-week high of $22.76 on 08/04/22 and a 52-week low of $13.27 on 05/19/22. A 50-day SMA is recorded $18.41, while a 200-day SMA reached $17.60. Nevertheless, trading volume fell to 1.26 million shares from 0.29 million shares the previous day.
Support And Resistance Levels for Syndax Pharmaceuticals Inc. (SNDX)
According to the 24-hour chart, there is a support level at 21.55, which, if violated, would cause prices to drop to 20.40. In the upper region, resistance lies at 23.31. The next price resistance is at 23.91. RSI (Relative Strength Index) is 73.00 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.87, which suggests the price will decrease in the coming days. Percent R is at 1.37%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Syndax Pharmaceuticals Inc. subject to short interest?
Stocks of Syndax Pharmaceuticals Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.65 million shares to 4.25 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.9 million shares. A decline of -38.82% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.26 of the overall float, the days-to-cover ratio (short ratio) decline to 6.26.
Which companies own the most shares of Syndax Pharmaceuticals Inc. (SNDX)?
According to Avidity Partners Management LP filings, the company currently owns 4,823,400 shares, which is about 8.58% of the total SNDX shares outstanding. The investor’s shares have plunged by 0 from its previous 13-F filing of 4823400.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $62,079,784. Nantahala Capital Management LLC reduced a -5.55% interest valued at $51.8 million while BVF Partners LP purchased a 295,000 stake. A total of -99,867 shares of Syndax Pharmaceuticals Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 92,538 were bought by The Vanguard Group, Inc. In its current portfolio, Avoro Capital Advisor LLC holds 2,220,500 shares valued at $42.72 million.
In terms of Syndax Pharmaceuticals Inc. share price expectations, FactSet research, analysts set an average price target of $31.43 in the next 12 months, up nearly 47.69% from the previous closing price of $20.99. Analysts anticipate Syndax Pharmaceuticals Inc. stock to reach $40.00 by 2022, with the lowest price target being $26.00. In spite of this, 8 analysts ranked Syndax Pharmaceuticals Inc. stock as a Buy at the end of 2022. On May 25, 2021, Citigroup assigned a price target of “a Buy” to the stock and initiated coverage with a $24.