Short interest on SNDX sees a significant decrease on Apr 27, 2023


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 $1,131,478 were sold by Morrison Briggs on May 09. At $21.41 per share, Morrison Briggs sold 52,855 shares. The insider’s holdings dropped to 17,836 shares worth approximately $0.36 million following the completion of this transaction.

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Also, Morrison Briggs sold 52,855 shares, netting a total of over 1,032,237 in proceeds. Following the sale of shares at $19.53 each, the insider now holds 17,836 shares.

Before that, Morrison Briggs had sold 52,854 shares from its account. In a trade valued at $1,190,674, the President, Head of R&D traded Syndax Pharmaceuticals Inc. shares for $22.53 each. Upon closing the transaction, the insider’s holdings decreased to 52,854 shares, worth approximately $0.36 million.

Analyzing SNDX Stock Performance

On Thursday, Syndax Pharmaceuticals Inc. [NASDAQ: SNDX] plunged -4.96% to $20.33. The stock’s lowest price that day was $20.10, but it reached a high of $21.24 in the same session. During the last five days, there has been a drop of approximately -4.33%. Over the course of the year, Syndax Pharmaceuticals Inc. shares have dropped approximately -20.12%. Shares of the company reached a 52-week high of $29.86 on 02/02/23 and a 52-week low of $19.26 on 04/10/23. A 50-day SMA is recorded $20.98, while a 200-day SMA reached $23.41. Nevertheless, trading volume fell to 0.97 million shares from 1.27 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 19.87, which, if violated, would cause prices to drop to 19.42. In the upper region, resistance lies at 21.01. The next price resistance is at 21.70. RSI (Relative Strength Index) is 43.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.04, which suggests the price will decrease in the coming days. Percent R is at 85.91%, indicating bearish price movement. Stochastics %K at holding 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 Apr 27, 2023 dropping by -1.11 million shares to 6.52 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2023 was 7.63 million shares. A decline of -17.02% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 7.69 of the overall float, the days-to-cover ratio (short ratio) decline to 7.69.

Which companies own the most shares of Syndax Pharmaceuticals Inc. (SNDX)?

According to Wellington Management Co. LLP filings, the company currently owns 7,003,734 shares, which is about 10.23% of the total SNDX shares outstanding. The investor’s shares have plunged by -979,708 from its previous 13-F filing of 7983442.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $90,066,499. SSgA Funds Management, Inc. acquire a 5.97% interest valued at $79.45 million while Avidity Partners Management LP sold a -1,995,700 stake. A total of 127,869 shares of Syndax Pharmaceuticals Inc. were sold by The Vanguard Group, Inc. during the quarter, and 644,799 were bought by Kynam Capital Management LP. In its current portfolio, Avoro Capital Advisor LLC holds 2,650,000 shares valued at $54.46 million.

In terms of Syndax Pharmaceuticals Inc. share price expectations, FactSet research, analysts set an average price target of $33.78 in the next 12 months, up nearly 58.95% from the previous closing price of $21.39. Analysts anticipate Syndax Pharmaceuticals Inc. stock to reach $37.00 by 2023, with the lowest price target being $31.00. In spite of this, 10 analysts ranked Syndax Pharmaceuticals Inc. stock as a Buy at the end of 2023.


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