Assenagon Asset Management S.A. Lowers Stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Assenagon Asset Management S.A. reduced its position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 1.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,039,987 shares of the company's stock after selling 24,469 shares during the quarter. Assenagon Asset Management S.A. owned 2.37% of Syndax Pharmaceuticals worth $25,061,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Virtus ETF Advisers LLC increased its stake in Syndax Pharmaceuticals by 18.6% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock valued at $70,000 after purchasing an additional 827 shares in the last quarter. Cape Investment Advisory Inc. increased its stake in 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 purchasing an additional 3,927 shares in the last quarter. Optimize Financial Inc bought a new stake in Syndax Pharmaceuticals during the 4th quarter valued at about $152,000. Lazard Asset Management LLC purchased a new stake in shares of Syndax Pharmaceuticals during the 4th quarter valued at about $153,000. Finally, Guggenheim Capital LLC purchased a new stake in shares of Syndax Pharmaceuticals during the 4th quarter valued at about $157,000.

Syndax Pharmaceuticals Price Performance

Shares of SNDX traded down $0.26 on Monday, reaching $9.99. The company's stock had a trading volume of 1,430,336 shares, compared to its average volume of 1,796,716. The stock has a market capitalization of $859.61 million, a P/E ratio of -2.75 and a beta of 0.74. The stock's 50 day simple moving average is $11.22 and its two-hundred day simple moving average is $12.99. Syndax Pharmaceuticals, Inc. has a 12-month low of $8.58 and a 12-month high of $25.07.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup dropped their price target on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Scotiabank raised their price target on shares of Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a "sector perform" rating in a report on Tuesday, May 6th. Guggenheim reaffirmed a "buy" rating and set a $32.00 price target on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th. JPMorgan Chase & Co. raised their price target on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Finally, Wall Street Zen raised shares of Syndax Pharmaceuticals to a "sell" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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).