Twinbeech Capital LP Increases Stock Position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Twinbeech Capital LP lifted its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 79.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 355,900 shares of the company's stock after purchasing an additional 157,321 shares during the period. Twinbeech Capital LP owned 0.42% of Syndax Pharmaceuticals worth $4,705,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Virtus ETF Advisers LLC boosted its stake in Syndax Pharmaceuticals by 18.6% in 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 during the period. E Fund Management Co. Ltd. grew its stake in shares of Syndax Pharmaceuticals by 14.4% in the fourth quarter. E Fund Management Co. Ltd. now owns 12,603 shares of the company's stock valued at $167,000 after acquiring an additional 1,583 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Syndax Pharmaceuticals by 10.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,099 shares of the company's stock valued at $239,000 after acquiring an additional 1,732 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 Syndax Pharmaceuticals in the 4th quarter worth about $26,000.

Syndax Pharmaceuticals Stock Down 8.9%

Syndax Pharmaceuticals stock traded down $0.96 during trading hours on Monday, reaching $9.85. 3,902,175 shares of the company's stock were exchanged, compared to its average volume of 1,774,576. The firm's 50 day simple moving average is $11.83 and its 200 day simple moving average is $13.69. Syndax Pharmaceuticals, Inc. has a twelve month low of $8.58 and a twelve month high of $25.07. The firm has a market capitalization of $847.56 million, a PE ratio of -2.71 and a beta of 0.82.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($0.98) EPS for the quarter, topping the consensus estimate 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 period in the prior year, the business earned ($0.85) EPS. The company's revenue for the quarter was up 1900.0% on a year-over-year basis. Analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SNDX. Wall Street Zen raised Syndax Pharmaceuticals to a "sell" rating in a research report on Tuesday, May 6th. Citigroup lowered their price target 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. Guggenheim reiterated a "buy" rating and issued a $32.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th. Scotiabank increased their price objective on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a "sector perform" rating in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. raised their target price on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.91.

About Syndax Pharmaceuticals

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).