In Thursday’s session, Syndax Pharmaceuticals Inc. (NASDAQ:SNDX) marked $28.55 per share, down from $28.98 in the previous session. While Syndax Pharmaceuticals Inc. has underperformed by -1.48%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SNDX rose by 71.88%, with highs and lows ranging from $29.26 to $13.27, whereas the simple moving average jumped by 32.47% in the last 200 days.
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On January 31, 2023, Stifel started tracking Syndax Pharmaceuticals Inc. (NASDAQ: SNDX) recommending Buy. A report published by JP Morgan on January 03, 2023, Initiated its previous ‘Overweight’ rating for SNDX. B. Riley Securities also rated SNDX shares as ‘Buy’, setting a target price of $31 on the company’s shares in an initiating report dated July 28, 2022. H.C. Wainwright Initiated an Buy rating on April 11, 2022, and assigned a price target of $31. Goldman initiated its ‘Buy’ rating for SNDX, as published in its report on February 15, 2022. Robert W. Baird’s report from June 04, 2021 suggests a price prediction of $31 for SNDX shares, giving the stock a ‘Outperform’ rating. Citigroup also rated the stock as ‘Buy’.
Analysis of Syndax Pharmaceuticals Inc. (SNDX)
Syndax Pharmaceuticals Inc.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of -3.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 17.20, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and SNDX has an average volume of 890.14K. On a monthly basis, the volatility of the stock is set at 4.56%, whereas on a weekly basis, it is put at 4.75%, with a gain of 0.78% over the past seven days. Furthermore, long-term investors anticipate a median target price of $33.14, showing growth from the present price of $28.55, which can serve as yet another indication of whether SNDX is worth investing in or should be passed over.
How Do You Analyze Syndax Pharmaceuticals Inc. Shares?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.30%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 90.20% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in SNDX shares?
The recent increase in stakes in SNDX appears to be a result of several institutional investors and hedge funds increasing their positions. Wellington Management Co. LLP’s position in SNDX has increased by 81.96% in the first quarter. The company now owns 7,983,442 shares of the stock, with a value of $203.18 million, following the purchase of 3,596,002 additional shares during the last quarter. Avidity Partners Management LP made another increased to its shares in SNDX during the first quarter, upping its stake by 2.51%. During the last quarter, the company picked up 136,900 additional shares for a total stake of worth $142.19 million, bringing number of shares owned by the company to 5,586,900.
During the first quarter, BlackRock Fund Advisors added a 208,198 position in SNDX. The Vanguard Group, Inc. purchased an additional 15672.0 shares in the last quarter, increasing its holdings by 0.58%, now holding 2.71 million shares worth $68.99 million. At the end of the first quarter, SSgA Funds Management, Inc. increased its SNDX holdings by 7.47% and now holds 2.62 million SNDX shares valued at $66.61 million with the added 0.18 million shares during the period. SNDX shares are owned by institutional investors to the tune of 90.20% at present.
