As of Friday close, Syndax Pharmaceuticals Inc.’s (NASDAQ:SNDX) stock was down -$0.17, moving down -0.95 percent to $17.78. The average number of shares traded per day over the past five days has been 814,340 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.76 fall in that time frame. In the last twenty days, the average volume was 838,870, while in the previous 50 days, it was 796,070.
Since last month, SNDX stock retreated -16.80%. Shares of the company fell to $17.62 on 08/16/23, the lowest level in the past month. A 52-week high of $29.86 was reached on 02/02/23 after having rallying from a 52-week low of $17.62. Since the beginning of this year, SNDX’s stock price has dropped by -30.14% or -$7.67, and marked a new high 7 times. However, the stock has declined by -40.46% since its 52-week high.
SNDX stock investors should be aware that Syndax Pharmaceuticals Inc. (SNDX) stock had its last reported insider trading activity 10 days ago on Aug 09. Morrison Briggs, the Director of the company, disposed of 52,855 shares for $18.27 on Aug 09. It resulted in a $965,402 divestment by the insider. Meury William sold 83,000 shares at an average price of $20.46 on Aug 02. The insider now owns 48,000 shares following the transaction. On Jul 10, Director Morrison Briggs sold 52,855 shares at $20.40 apiece. The transaction was valued at $1,078,068.
Financial Health
In the three months ended June 29, Syndax Pharmaceuticals Inc.’s quick ratio stood at 13.60, while its current ratio was 13.60, showing that the company is able to pay off its debt. Based on annual data, SNDX earned $151.76 million in gross profit.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected Syndax Pharmaceuticals Inc. to report -$0.73 quarterly earnings, the actual figure was -$0.64 per share, beating the consensus estimate by 12.30%. During the quarter, the company generated -$53.39 million in EBITDA. The liabilities of Syndax Pharmaceuticals Inc. were 31.3 million at the end of its most recent quarter ended June 29, and its total debt was $2.1 million. The value of shareholders’ equity is $69.48 million.
Technical Picture
This quick technical analysis looks at Syndax Pharmaceuticals Inc.’s (SNDX) price momentum. With a historical volatility rate of 21.04%, the RSI 9-day stood at 20.95% on 18 August.
With respect to its five-day moving average, the current Syndax Pharmaceuticals Inc. price is down by -4.10% percent or -$0.76. At present, SNDX shares trade -16.37% below its 20-day simple moving average and -18.96% percent below its 100-day simple moving average. However, the stock is currently trading approximately -14.60% below its SMA50 and -22.56% below its SMA200.
Stochastic coefficient K was 6.99% and Stochastic coefficient D was 9.81%, while ATR was 0.80. Given the Stochastic reading of 4.28% for the 14-day period, the RSI (14) reading has been calculated as 26.44%. As of today, the MACD Oscillator reading stands at -0.38, while the 14-day reading stands at -1.01.
Analyst Ratings
Scotiabank launched its rating on Syndax Pharmaceuticals Inc. (NASDAQ: SNDX) to a Sector outperform in a note to investors on July 27, 2023. Syndax Pharmaceuticals Inc. (SNDX) has been rated Buy by analysts. According to 0 brokerage firms, SNDX is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 2 analysts rate Syndax Pharmaceuticals Inc. stock as buy, with 9 recommending it as overweight.
With a median target price of $35.50, the current consensus forecast for the stock is $32.00 – $42.00. Based on these forecasts, analysts predict Syndax Pharmaceuticals Inc. (SNDX) will achieve an average price target of $36.20.
