Two Sigma Advisers LP Decreases Holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Two Sigma Advisers LP trimmed its position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 19.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 535,952 shares of the company's stock after selling 133,400 shares during the period. Two Sigma Advisers LP owned about 0.63% of Syndax Pharmaceuticals worth $7,085,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Syndax Pharmaceuticals during the 4th quarter worth $26,000. Virtus ETF Advisers LLC raised its position in shares of Syndax Pharmaceuticals by 18.6% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock worth $70,000 after acquiring an additional 827 shares in the last quarter. Cape Investment Advisory Inc. lifted its stake in Syndax Pharmaceuticals by 157.1% during the fourth quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company's stock worth $85,000 after purchasing an additional 3,927 shares during the last quarter. KBC Group NV boosted its holdings in Syndax Pharmaceuticals by 104.8% in the fourth quarter. KBC Group NV now owns 6,954 shares of the company's stock valued at $92,000 after purchasing an additional 3,559 shares in the last quarter. Finally, Optimize Financial Inc purchased a new position in Syndax Pharmaceuticals in the fourth quarter valued at approximately $152,000.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ:SNDX traded up $0.08 during trading on Tuesday, reaching $9.93. The company had a trading volume of 2,805,374 shares, compared to its average volume of 1,778,700. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $8.58 and a fifty-two week high of $25.07. The stock's fifty day moving average price is $11.76 and its 200 day moving average price is $13.61. The firm has a market capitalization of $854.45 million, a price-to-earnings ratio of -2.74 and a beta of 0.82.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.06. The firm had revenue of $20.04 million during the quarter, compared to analyst estimates of $15.88 million. The business's quarterly revenue was up 1900.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.85) earnings per share. On average, equities analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SNDX shares. HC Wainwright restated a "buy" rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, March 4th. Wall Street Zen upgraded shares of Syndax Pharmaceuticals to a "sell" rating in a research note on Tuesday, May 6th. Scotiabank raised their price objective on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 6th. Guggenheim reissued a "buy" rating and issued a $32.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th. Finally, Citigroup dropped their price target on Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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).