Propel Bio Management LLC Acquires 50,000 Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Propel Bio Management LLC boosted its position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 37.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 183,259 shares of the company's stock after acquiring an additional 50,000 shares during the period. Syndax Pharmaceuticals accounts for 2.4% of Propel Bio Management LLC's investment portfolio, making the stock its 11th biggest holding. Propel Bio Management LLC owned approximately 0.21% of Syndax Pharmaceuticals worth $2,423,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNDX. Virtus ETF Advisers LLC raised its position in Syndax Pharmaceuticals by 18.6% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock worth $70,000 after purchasing an additional 827 shares in the last quarter. E Fund Management Co. Ltd. grew 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 buying an additional 1,583 shares during the last quarter. China Universal Asset Management Co. Ltd. grew 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 buying an additional 1,732 shares during the last quarter. R Squared Ltd bought a new stake in Syndax Pharmaceuticals during the fourth quarter worth about $26,000. Finally, Y Intercept Hong Kong Ltd grew its stake in shares of Syndax Pharmaceuticals by 2.5% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 83,297 shares of the company's stock valued at $1,101,000 after purchasing an additional 1,995 shares during the last quarter.

Insider Buying and Selling

In other news, insider Neil Gallagher sold 4,618 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction of $71,579.00. Following the transaction, the insider now owns 85,095 shares in the company, valued at approximately $1,318,972.50. This trade represents a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael A. Metzger sold 13,288 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $15.50, for a total value of $205,964.00. Following the transaction, the chief executive officer now owns 300,121 shares in the company, valued at approximately $4,651,875.50. This trade represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,683 shares of company stock worth $336,087. Corporate insiders own 4.10% of the company's stock.

Syndax Pharmaceuticals Trading Down 2.8 %

Shares of SNDX stock traded down $0.40 on Thursday, hitting $13.76. 446,462 shares of the stock were exchanged, compared to its average volume of 1,602,669. The firm has a market capitalization of $1.18 billion, a P/E ratio of -3.78 and a beta of 1.28. The business has a 50-day moving average of $12.96 and a 200 day moving average of $14.79. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its earnings results on Monday, March 3rd. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.79). The company had revenue of $7.68 million during the quarter, compared to analyst estimates of $86.32 million. As a group, research analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased 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. Citigroup decreased their price target 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. HC Wainwright restated a "buy" rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday, March 4th. Scotiabank cut their price objective on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a "sector perform" rating on the stock in a report on Wednesday, January 8th. Finally, StockNews.com upgraded shares of Syndax Pharmaceuticals to a "sell" rating in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.20.

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).