Prosight Management LP Raises Stock Position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Prosight Management LP increased its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 11.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 620,000 shares of the company's stock after acquiring an additional 65,897 shares during the period. Syndax Pharmaceuticals comprises about 2.3% of Prosight Management LP's holdings, making the stock its 17th largest holding. Prosight Management LP owned approximately 0.73% of Syndax Pharmaceuticals worth $8,196,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. R Squared Ltd purchased a new position in Syndax Pharmaceuticals during the 4th quarter valued at about $26,000. Virtus ETF Advisers LLC grew its stake in shares of Syndax Pharmaceuticals by 18.6% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock worth $70,000 after buying an additional 827 shares during the last quarter. Cape Investment Advisory Inc. grew its stake in shares of Syndax Pharmaceuticals by 157.1% in the 4th quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company's stock worth $85,000 after buying an additional 3,927 shares during the last quarter. KBC Group NV lifted its position in Syndax Pharmaceuticals by 104.8% in the 4th quarter. KBC Group NV now owns 6,954 shares of the company's stock valued at $92,000 after acquiring an additional 3,559 shares in the last quarter. Finally, Optimize Financial Inc bought a new position in Syndax Pharmaceuticals in the 4th quarter valued at approximately $152,000.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ:SNDX traded up $0.10 during midday trading on Friday, hitting $9.05. The company had a trading volume of 2,954,265 shares, compared to its average volume of 1,725,031. The company has a market cap of $778.73 million, a price-to-earnings ratio of -2.49 and a beta of 0.82. Syndax Pharmaceuticals, Inc. has a 12-month low of $8.58 and a 12-month high of $25.07. The company has a fifty day moving average of $12.10 and a two-hundred day moving average of $14.07.

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, topping the consensus estimate of ($1.04) by $0.06. The company had revenue of $20.04 million during the quarter, compared to analysts' expectations of $15.88 million. The company'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) earnings per share. Research analysts expect that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on SNDX. 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 report on Tuesday, May 6th. Guggenheim reissued a "buy" rating and set a $32.00 price target on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th. JPMorgan Chase & Co. increased their price target on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Citigroup lowered their price target on Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Finally, HC Wainwright reissued a "buy" rating and set a $51.00 price target on shares of Syndax Pharmaceuticals in a report on Tuesday, March 4th. One research 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, Syndax Pharmaceuticals has an average rating of "Moderate Buy" and a consensus 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).