Hudson Bay Capital Management LP Sells 89,000 Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Hudson Bay Capital Management LP trimmed its holdings in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 20.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 336,000 shares of the company's stock after selling 89,000 shares during the period. Hudson Bay Capital Management LP owned about 0.39% of Syndax Pharmaceuticals worth $4,442,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Syndax Pharmaceuticals during the 4th quarter worth $26,000. Virtus ETF Advisers LLC increased 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 buying an additional 827 shares during the last quarter. Cape Investment Advisory Inc. increased its position in Syndax Pharmaceuticals by 157.1% in the fourth 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 increased its position in Syndax Pharmaceuticals by 104.8% in the fourth quarter. KBC Group NV now owns 6,954 shares of the company's stock worth $92,000 after buying an additional 3,559 shares during the last quarter. Finally, Optimize Financial Inc purchased a new stake in Syndax Pharmaceuticals in the fourth quarter worth $152,000.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Citigroup decreased their target price on Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price target on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Guggenheim reiterated a "buy" rating and issued a $32.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, May 6th. HC Wainwright reiterated a "buy" rating and issued a $51.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. Finally, StockNews.com upgraded Syndax Pharmaceuticals to a "sell" rating in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $35.91.

Syndax Pharmaceuticals Trading Up 1.1%

NASDAQ SNDX traded up $0.10 on Friday, hitting $9.05. The company's stock had a trading volume of 2,954,265 shares, compared to its average volume of 1,719,603. Syndax Pharmaceuticals, Inc. has a 52-week low of $8.58 and a 52-week high of $25.07. The firm has a market cap of $778.73 million, a P/E ratio of -2.49 and a beta of 0.82. The company's 50-day simple moving average is $12.10 and its 200 day simple moving average is $14.10.

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

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).