Avoro Capital Advisors LLC Sells 1,613,437 Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Avoro Capital Advisors LLC reduced its position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 41.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,275,000 shares of the company's stock after selling 1,613,437 shares during the quarter. Avoro Capital Advisors LLC owned about 2.67% of Syndax Pharmaceuticals worth $30,076,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SNDX. R Squared Ltd bought a new stake in shares of Syndax Pharmaceuticals during the fourth quarter worth approximately $26,000. Cape Investment Advisory Inc. raised its position in shares of Syndax Pharmaceuticals by 157.1% during the 4th quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company's stock valued at $85,000 after acquiring an additional 3,927 shares during the last quarter. KBC Group NV raised its position in shares of Syndax Pharmaceuticals by 104.8% during the 4th quarter. KBC Group NV now owns 6,954 shares of the company's stock valued at $92,000 after acquiring an additional 3,559 shares during the last quarter. Optimize Financial Inc acquired a new position in shares of Syndax Pharmaceuticals in the 4th quarter valued at $152,000. Finally, Guggenheim Capital LLC bought a new position in shares of Syndax Pharmaceuticals in the 4th quarter worth $157,000.

Insiders Place Their Bets

In related news, CEO Michael A. Metzger sold 13,288 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $205,964.00. Following the completion of the transaction, the chief executive officer now owns 300,121 shares in the company, valued at approximately $4,651,875.50. This represents a 4.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Neil Gallagher sold 4,618 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $71,579.00. Following the completion of the transaction, the insider now directly owns 85,095 shares of the company's stock, valued at approximately $1,318,972.50. This trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,683 shares of company stock valued at $336,087 in the last quarter. 4.10% of the stock is currently owned by insiders.

Syndax Pharmaceuticals Stock Up 0.2 %

SNDX traded up $0.03 during trading on Friday, hitting $13.33. The company had a trading volume of 756,269 shares, compared to its average volume of 1,595,894. The company has a market capitalization of $1.15 billion, a PE ratio of -3.67 and a beta of 1.28. Syndax Pharmaceuticals, Inc. has a one year low of $9.66 and a one year high of $25.07. The firm's 50-day moving average price is $13.08 and its 200 day moving average price is $14.89.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($1.10) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.79). The firm had revenue of $7.68 million during the quarter, compared to the consensus estimate of $86.32 million. Sell-side analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Wall Street Analyst Weigh In

SNDX has been the topic of several analyst reports. HC Wainwright reissued a "buy" rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. Scotiabank cut their price target on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Wednesday, January 8th. StockNews.com upgraded shares of Syndax Pharmaceuticals to a "sell" rating in a report on Thursday, April 10th. JPMorgan Chase & Co. increased their target price on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Finally, Citigroup decreased their price target on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $36.20.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).