Tang Capital Management LLC Makes New Investment in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Tang Capital Management LLC acquired a new position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 100,000 shares of the company's stock, valued at approximately $1,322,000. Tang Capital Management LLC owned 0.12% of Syndax Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Virtus ETF Advisers LLC raised its stake in Syndax Pharmaceuticals by 18.6% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock worth $70,000 after acquiring an additional 827 shares during the period. E Fund Management Co. Ltd. raised its stake in Syndax Pharmaceuticals by 14.4% during the fourth quarter. E Fund Management Co. Ltd. now owns 12,603 shares of the company's stock worth $167,000 after acquiring an additional 1,583 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in Syndax Pharmaceuticals by 10.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,099 shares of the company's stock worth $239,000 after acquiring an additional 1,732 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Syndax Pharmaceuticals by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,748 shares of the company's stock worth $706,000 after acquiring an additional 1,811 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of Syndax Pharmaceuticals in the fourth quarter valued at approximately $26,000.

Analysts Set New Price Targets

Several equities 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 company an "overweight" rating in a research note on Thursday, March 20th. StockNews.com upgraded shares of Syndax Pharmaceuticals to a "sell" rating in a research note on Tuesday, May 6th. Citigroup decreased their price target on Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Guggenheim reissued a "buy" rating and issued a $32.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 6th. Finally, Scotiabank increased their price target on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a "sector perform" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $35.91.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ SNDX traded up $1.27 during mid-day trading on Tuesday, reaching $10.57. 3,551,520 shares of the company traded hands, compared to its average volume of 1,739,783. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $8.58 and a fifty-two week high of $25.07. The firm has a market cap of $909.52 million, a PE ratio of -2.91 and a beta of 0.82. The stock has a fifty day simple moving average of $11.97 and a 200-day simple moving average of $13.94.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.98) EPS for the quarter, beating 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 quarter in the prior year, the business earned ($0.85) EPS. Syndax Pharmaceuticals's revenue was up 1900.0% compared to the same quarter last year. As a group, analysts predict 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).