Sphera Funds Management LTD. Increases Stock Holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Sphera Funds Management LTD. grew its position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 33.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,381,241 shares of the company's stock after acquiring an additional 346,395 shares during the quarter. Syndax Pharmaceuticals accounts for approximately 3.3% of Sphera Funds Management LTD.'s portfolio, making the stock its 4th largest holding. Sphera Funds Management LTD. owned about 1.62% of Syndax Pharmaceuticals worth $18,260,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its position in shares of Syndax Pharmaceuticals by 343.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,064,456 shares of the company's stock worth $27,292,000 after buying an additional 1,598,428 shares in the last quarter. Granahan Investment Management LLC increased its position in shares of Syndax Pharmaceuticals by 36.2% during the fourth quarter. Granahan Investment Management LLC now owns 905,322 shares of the company's stock valued at $11,968,000 after acquiring an additional 240,557 shares during the last quarter. Octagon Capital Advisors LP bought a new stake in Syndax Pharmaceuticals during the fourth quarter worth $11,951,000. Northern Trust Corp boosted its position in Syndax Pharmaceuticals by 7.5% in the fourth quarter. Northern Trust Corp now owns 792,750 shares of the company's stock worth $10,480,000 after purchasing an additional 55,144 shares during the last quarter. Finally, Algert Global LLC grew its stake in Syndax Pharmaceuticals by 65.4% in the 4th quarter. Algert Global LLC now owns 785,632 shares of the company's stock valued at $10,386,000 after purchasing an additional 310,634 shares during the period.

Syndax Pharmaceuticals Stock Up 1.7%

SNDX traded up $0.18 during mid-day trading on Wednesday, reaching $10.75. 1,201,858 shares of the company traded hands, compared to its average volume of 1,738,083. The company's fifty day moving average price is $11.97 and its 200-day moving average price is $13.94. The stock has a market capitalization of $924.92 million, a P/E ratio of -2.95 and a beta of 0.82. Syndax Pharmaceuticals, Inc. has a 52-week low of $8.58 and a 52-week high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.04) by $0.06. The business had revenue of $20.04 million during the quarter, compared to the consensus estimate of $15.88 million. Syndax Pharmaceuticals's revenue for the quarter was up 1900.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.85) EPS. As a group, sell-side analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SNDX shares. StockNews.com upgraded Syndax Pharmaceuticals to a "sell" rating in a research note on Tuesday, May 6th. HC Wainwright reiterated a "buy" rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. Citigroup decreased their price target on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Scotiabank upped their price objective on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. boosted their target price on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $35.91.

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).