Bayesian Capital Management LP Buys Shares of 28,000 Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Bayesian Capital Management LP bought a new position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 28,000 shares of the company's stock, valued at approximately $370,000.

Several other institutional investors and hedge funds have also made changes to their positions in SNDX. BNP Paribas Financial Markets boosted its position in shares of Syndax Pharmaceuticals by 1,128.7% in the fourth quarter. BNP Paribas Financial Markets now owns 259,245 shares of the company's stock worth $3,427,000 after buying an additional 238,146 shares during the period. Algert Global LLC boosted its position in shares of Syndax Pharmaceuticals by 65.4% in the fourth quarter. Algert Global LLC now owns 785,632 shares of the company's stock worth $10,386,000 after buying an additional 310,634 shares during the period. Nantahala Capital Management LLC boosted its holdings in Syndax Pharmaceuticals by 23.7% in the fourth quarter. Nantahala Capital Management LLC now owns 560,532 shares of the company's stock valued at $7,410,000 after purchasing an additional 107,300 shares during the last quarter. Northern Trust Corp boosted its holdings in Syndax Pharmaceuticals by 7.5% in the fourth quarter. Northern Trust Corp now owns 792,750 shares of the company's stock valued at $10,480,000 after purchasing an additional 55,144 shares during the last quarter. Finally, Propel Bio Management LLC boosted its holdings in Syndax Pharmaceuticals by 37.5% in the fourth quarter. Propel Bio Management LLC now owns 183,259 shares of the company's stock valued at $2,423,000 after purchasing an additional 50,000 shares during the last quarter.

Wall Street Analysts Forecast Growth

SNDX has been the topic of several analyst reports. HC Wainwright restated a "buy" rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. JPMorgan Chase & Co. raised their target price on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Guggenheim reiterated a "buy" rating and set a $32.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th. Citigroup lowered their price target on Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Finally, Scotiabank boosted their price target on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $35.91.

Syndax Pharmaceuticals Stock Performance

SNDX stock traded down $0.56 during midday trading on Tuesday, reaching $10.43. 481,803 shares of the company's stock traded hands, compared to its average volume of 1,685,611. The company has a 50-day moving average price of $12.41 and a two-hundred day moving average price of $14.30. The firm has a market capitalization of $897.47 million, a PE ratio of -2.87 and a beta of 0.82. Syndax Pharmaceuticals, Inc. has a 52 week low of $9.66 and a 52 week high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.06. The business had revenue of $20.04 million for the quarter, compared to analysts' expectations of $15.88 million. The business's quarterly revenue was up 1900.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.85) earnings per share. As a group, analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Syndax Pharmaceuticals Company Profile

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).