Cubist Systematic Strategies LLC Invests $4.73 Million in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Cubist Systematic Strategies LLC purchased a new position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 358,071 shares of the company's stock, valued at approximately $4,734,000. Cubist Systematic Strategies LLC owned approximately 0.42% of Syndax Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SNDX. Assenagon Asset Management S.A. boosted its stake in shares of Syndax Pharmaceuticals by 343.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,064,456 shares of the company's stock valued at $27,292,000 after purchasing an additional 1,598,428 shares in the last quarter. Franklin Resources Inc. boosted its position in Syndax Pharmaceuticals by 13.4% during the third quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company's stock valued at $34,948,000 after buying an additional 208,043 shares during the period. Northern Trust Corp grew its stake in shares of Syndax Pharmaceuticals by 7.5% during the fourth quarter. Northern Trust Corp now owns 792,750 shares of the company's stock valued at $10,480,000 after buying an additional 55,144 shares during the last quarter. Algert Global LLC increased its holdings 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. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Syndax Pharmaceuticals by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 704,823 shares of the company's stock valued at $9,318,000 after acquiring an additional 8,876 shares during the period.

Syndax Pharmaceuticals Trading Up 2.7%

Syndax Pharmaceuticals stock traded up $0.29 during trading hours on Monday, hitting $10.99. 2,039,182 shares of the stock traded hands, compared to its average volume of 1,690,117. 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 $12.41 and its two-hundred day moving average price is $14.30. The company has a market cap of $945.66 million, a PE ratio of -3.03 and a beta of 0.82.

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

Analysts Set New Price Targets

Several brokerages have weighed in on SNDX. StockNews.com upgraded Syndax Pharmaceuticals to a "sell" rating in a research report on Tuesday, May 6th. HC Wainwright reissued a "buy" rating and issued a $51.00 price target on shares of Syndax Pharmaceuticals in a report on Tuesday, March 4th. JPMorgan Chase & Co. boosted their price objective on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Scotiabank increased their target price on shares of Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 6th. Finally, Guggenheim reissued a "buy" rating and issued a $32.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Syndax Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $35.91.

Syndax Pharmaceuticals 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).