Soleus Capital Management L.P. Buys 1,401,016 Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Soleus Capital Management L.P. boosted its holdings in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 128.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,492,000 shares of the company's stock after acquiring an additional 1,401,016 shares during the quarter. Syndax Pharmaceuticals makes up approximately 2.1% of Soleus Capital Management L.P.'s portfolio, making the stock its 15th largest holding. Soleus Capital Management L.P. owned 2.92% of Syndax Pharmaceuticals worth $32,944,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of Syndax Pharmaceuticals by 143.4% during the 3rd quarter. Barclays PLC now owns 187,629 shares of the company's stock worth $3,612,000 after buying an additional 110,535 shares during the period. Inspire Investing LLC boosted its holdings in shares of Syndax Pharmaceuticals by 44.5% during the 4th quarter. Inspire Investing LLC now owns 30,792 shares of the company's stock worth $407,000 after buying an additional 9,484 shares during the period. KBC Group NV boosted its holdings 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 worth $92,000 after buying an additional 3,559 shares during the period. R Squared Ltd bought a new stake in shares of Syndax Pharmaceuticals during the 4th quarter worth $26,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Syndax Pharmaceuticals by 10.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,099 shares of the company's stock worth $239,000 after buying an additional 1,732 shares during the period.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SNDX. Guggenheim reaffirmed a "buy" rating and set a $32.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th. Citigroup decreased their price objective 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. Scotiabank upped their price objective 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. HC Wainwright restated a "buy" rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. Finally, Wall Street Zen upgraded shares of Syndax Pharmaceuticals to a "sell" rating in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $35.91.

Syndax Pharmaceuticals Price Performance

Shares of Syndax Pharmaceuticals stock traded down $0.96 during midday trading on Friday, hitting $9.85. The company had a trading volume of 3,902,175 shares, compared to its average volume of 1,770,764. Syndax Pharmaceuticals, Inc. has a 1-year low of $8.58 and a 1-year high of $25.07. The business's 50 day simple moving average is $11.83 and its two-hundred day simple moving average is $13.80. The stock has a market cap of $847.56 million, a PE ratio of -2.71 and a beta of 0.82.

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 for the quarter, topping analysts' consensus estimates of ($1.04) by $0.06. The business had revenue of $20.04 million for the quarter, compared to analyst estimates of $15.88 million. During the same quarter in the prior year, the firm earned ($0.85) EPS. The firm's quarterly revenue was up 1900.0% on a year-over-year basis. On average, sell-side analysts expect that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

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).