Zacks Investment Research downgraded shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a hold rating to a sell rating in a research report sent to investors on Friday morning.
According to Zacks, “Syndax Pharmaceuticals, Inc. is a biopharmaceutical company which focused on the development and commercialization of entinostat, an epigenetic therapy for treatment-resistant cancers. The Company’s product pipeline includes ENCORE 601, ENCORE 602, J1353, NCI-7870, NCI-9844, E2112, NCI-8871 and NCI-9253 which are in clinical trial stage. Syndax Pharmaceuticals, Inc. is based in WALTHAM, United States. “
Shares of Syndax Pharmaceuticals (NASDAQ:SNDX) traded down $0.55 during trading hours on Friday, hitting $8.98. The company had a trading volume of 350,217 shares, compared to its average volume of 297,200. The stock has a market cap of $219.02 and a P/E ratio of -3.17. Syndax Pharmaceuticals has a 1-year low of $6.31 and a 1-year high of $15.70.
Several large investors have recently made changes to their positions in SNDX. New York State Common Retirement Fund raised its holdings in shares of Syndax Pharmaceuticals by 421.9% during the 2nd quarter. New York State Common Retirement Fund now owns 9,400 shares of the company’s stock valued at $131,000 after buying an additional 7,599 shares during the period. Trexquant Investment LP purchased a new stake in shares of Syndax Pharmaceuticals during the 3rd quarter valued at about $133,000. Airain ltd purchased a new stake in shares of Syndax Pharmaceuticals during the 2nd quarter valued at about $150,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Syndax Pharmaceuticals during the 3rd quarter valued at about $154,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Syndax Pharmaceuticals during the 3rd quarter valued at about $163,000. Institutional investors and hedge funds own 61.65% of the company’s stock.
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About Syndax Pharmaceuticals
Syndax Pharmaceuticals, Inc (Syndax) is a clinical stage biopharmaceutical company focused on developing a pipeline of combination therapies in multiple cancer indications. The Company’s product candidate, entinostat, which was granted Breakthrough Therapy designation by the FDA following positive results from its Phase IIb clinical trial, ENCORE 301, is being evaluated in a Phase III clinical trial for advanced hormone receptor positive breast cancer.
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