Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Shares Bought by Granahan Investment Management LLC

Granahan Investment Management LLC grew its holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 36.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 905,322 shares of the company's stock after purchasing an additional 240,557 shares during the quarter. Granahan Investment Management LLC owned approximately 1.06% of Syndax Pharmaceuticals worth $11,968,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. R Squared Ltd acquired a new stake in Syndax Pharmaceuticals during the 4th quarter valued at $26,000. Virtus ETF Advisers LLC boosted its stake in shares of Syndax Pharmaceuticals by 18.6% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock valued at $70,000 after acquiring an additional 827 shares during the last quarter. Cape Investment Advisory Inc. increased its position in Syndax Pharmaceuticals by 157.1% during the 4th 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 in the last quarter. KBC Group NV raised its stake 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 purchasing an additional 3,559 shares during the last quarter. Finally, Optimize Financial Inc purchased a new position in Syndax Pharmaceuticals in the 4th quarter valued at about $152,000.

Insiders Place Their Bets

In other Syndax Pharmaceuticals news, insider Neil Gallagher sold 4,618 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $71,579.00. Following the completion of the transaction, the insider now directly owns 85,095 shares of the company's stock, valued at $1,318,972.50. This represents a 5.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael A. Metzger sold 13,288 shares of Syndax Pharmaceuticals stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $15.50, for a total value of $205,964.00. Following the sale, the chief executive officer now directly owns 300,121 shares in the company, valued at approximately $4,651,875.50. The trade was a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,683 shares of company stock worth $336,087 over the last quarter. 4.10% of the stock is owned by corporate insiders.

Syndax Pharmaceuticals Stock Performance

SNDX opened at $10.70 on Friday. Syndax Pharmaceuticals, Inc. has a 1 year low of $9.66 and a 1 year high of $25.07. The firm has a 50 day moving average price of $12.48 and a 200 day moving average price of $14.42. The company has a market cap of $920.67 million, a PE ratio of -2.95 and a beta of 0.82.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.98) earnings per share (EPS) 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 analyst estimates of $15.88 million. During the same period in the previous year, the company earned ($0.85) EPS. Syndax Pharmaceuticals's revenue was up 1900.0% on a year-over-year basis. On average, sell-side analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SNDX shares. 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. JPMorgan Chase & Co. boosted 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. Guggenheim restated a "buy" rating and set a $32.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday. Scotiabank lifted 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. Finally, HC Wainwright reiterated a "buy" rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. One investment 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. According to MarketBeat, the stock 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).

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