Two Sigma Investments LP Sells 216,671 Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Two Sigma Investments LP reduced its position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 24.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 669,823 shares of the company's stock after selling 216,671 shares during the quarter. Two Sigma Investments LP owned approximately 0.78% of Syndax Pharmaceuticals worth $8,855,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Barclays PLC boosted its stake in shares of Syndax Pharmaceuticals by 143.4% in the 3rd quarter. Barclays PLC now owns 187,629 shares of the company's stock valued at $3,612,000 after purchasing an additional 110,535 shares during the last quarter. Tang Capital Management LLC bought a new stake in shares of Syndax Pharmaceuticals in the 4th quarter valued at $1,322,000. Jump Financial LLC lifted its position in shares of Syndax Pharmaceuticals by 80.8% during the 4th quarter. Jump Financial LLC now owns 173,890 shares of the company's stock valued at $2,299,000 after acquiring an additional 77,699 shares during the period. Simplify Asset Management Inc. boosted its stake in Syndax Pharmaceuticals by 20.8% during the fourth quarter. Simplify Asset Management Inc. now owns 147,641 shares of the company's stock worth $1,952,000 after acquiring an additional 25,456 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Syndax Pharmaceuticals by 7.5% during the fourth quarter. Northern Trust Corp now owns 792,750 shares of the company's stock worth $10,480,000 after acquiring an additional 55,144 shares in the last quarter.

Analyst Ratings Changes

SNDX has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their target price 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. Guggenheim reissued a "buy" rating and set a $32.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 6th. Wall Street Zen raised shares of Syndax Pharmaceuticals to a "sell" rating in a research note on Tuesday, May 6th. Citigroup cut their target price on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Finally, HC Wainwright reissued a "buy" rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Syndax Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $35.91.

Syndax Pharmaceuticals Price Performance

Shares of SNDX stock traded up $0.19 on Wednesday, hitting $10.12. The stock had a trading volume of 1,823,791 shares, compared to its average volume of 1,778,880. The business has a 50 day moving average of $11.61 and a 200 day moving average of $13.56. The stock has a market cap of $870.80 million, a price-to-earnings ratio of -2.79 and a beta of 0.82. 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 posted 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 company had revenue of $20.04 million for the quarter, compared to the consensus estimate of $15.88 million. Syndax Pharmaceuticals's quarterly revenue was up 1900.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.85) EPS. As a group, research analysts expect that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share 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).