Polar Asset Management Partners Inc. Invests $1.12 Million in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Polar Asset Management Partners Inc. purchased a new position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 84,998 shares of the company's stock, valued at approximately $1,124,000. Polar Asset Management Partners Inc. owned about 0.10% of Syndax Pharmaceuticals at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SNDX. R Squared Ltd bought a new stake in Syndax Pharmaceuticals during the fourth quarter valued at about $26,000. Virtus ETF Advisers LLC lifted its stake in shares of Syndax Pharmaceuticals by 18.6% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock valued at $70,000 after buying an additional 827 shares during the period. Cape Investment Advisory Inc. lifted its stake in shares of Syndax Pharmaceuticals by 157.1% in the fourth quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company's stock valued at $85,000 after buying an additional 3,927 shares during the period. KBC Group NV lifted its stake in shares of Syndax Pharmaceuticals by 104.8% in the fourth quarter. KBC Group NV now owns 6,954 shares of the company's stock valued at $92,000 after buying an additional 3,559 shares during the period. Finally, Optimize Financial Inc bought a new stake in shares of Syndax Pharmaceuticals in the fourth quarter valued at about $152,000.

Syndax Pharmaceuticals Price Performance

Shares of SNDX stock traded down $0.05 on Friday, reaching $10.57. 1,808,471 shares of the stock were exchanged, compared to its average volume of 1,782,885. The stock has a market cap of $909.52 million, a PE ratio of -2.91 and a beta of 0.82. Syndax Pharmaceuticals, Inc. has a one year low of $8.58 and a one year high of $25.07. The stock has a 50 day moving average price of $11.49 and a 200 day moving average price of $13.44.

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

Analyst Ratings Changes

A number of research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. HC Wainwright restated a "buy" rating and set a $51.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. Scotiabank raised their price target on shares of Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a "sector perform" rating in a research note on Tuesday, May 6th. Guggenheim reiterated a "buy" rating and issued a $32.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 6th. Finally, Citigroup decreased 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $35.91.

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).