Hudson Bay Capital Management LP Lowers Stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

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

Other institutional investors and hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. increased its holdings in shares of Syndax Pharmaceuticals by 343.0% in 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 during the last quarter. Granahan Investment Management LLC increased its holdings in shares of Syndax Pharmaceuticals by 36.2% in the 4th quarter. Granahan Investment Management LLC now owns 905,322 shares of the company's stock worth $11,968,000 after buying an additional 240,557 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Syndax Pharmaceuticals by 7.5% in the 4th quarter. Northern Trust Corp now owns 792,750 shares of the company's stock worth $10,480,000 after buying an additional 55,144 shares during the last quarter. Algert Global LLC increased its holdings in shares of Syndax Pharmaceuticals by 65.4% in the 4th quarter. Algert Global LLC now owns 785,632 shares of the company's stock worth $10,386,000 after buying an additional 310,634 shares during the last quarter. Finally, Crestline Management LP increased its holdings in shares of Syndax Pharmaceuticals by 66.4% in the 4th quarter. Crestline Management LP now owns 713,205 shares of the company's stock worth $9,429,000 after buying an additional 284,667 shares during the last quarter.

Syndax Pharmaceuticals Price Performance

SNDX traded up $0.10 during trading on Friday, hitting $9.05. 2,954,265 shares of the stock traded hands, compared to its average volume of 1,725,031. The firm has a market capitalization of $778.73 million, a P/E ratio of -2.49 and a beta of 0.82. The firm has a 50-day moving average of $12.10 and a 200 day moving average of $14.03. Syndax Pharmaceuticals, Inc. has a 12-month low of $8.58 and a 12-month high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its earnings results 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. During the same period in the prior year, the business posted ($0.85) earnings per share. The company's revenue for the quarter was up 1900.0% on a year-over-year basis. As a group, equities analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Analyst Ratings Changes

SNDX has been the topic of a number of research analyst reports. 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 report on Tuesday, March 4th. StockNews.com raised shares of Syndax Pharmaceuticals to a "sell" rating in a report on Tuesday, May 6th. HC Wainwright reissued a "buy" rating and issued a $51.00 price target on shares of Syndax Pharmaceuticals in a report on Tuesday, March 4th. Scotiabank increased their target price on shares of Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a "sector perform" rating in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. One 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 data from MarketBeat, Syndax Pharmaceuticals currently has a consensus 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).