Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Stock Position Boosted by Avidity Partners Management LP

Avidity Partners Management LP grew its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 40.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,950,000 shares of the company’s stock after acquiring an additional 1,129,000 shares during the period. Syndax Pharmaceuticals comprises 3.1% of Avidity Partners Management LP’s investment portfolio, making the stock its 7th biggest holding. Avidity Partners Management LP owned approximately 4.66% of Syndax Pharmaceuticals worth $85,360,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in SNDX. CWM LLC raised its stake in shares of Syndax Pharmaceuticals by 415.3% in the 4th quarter. CWM LLC now owns 1,685 shares of the company’s stock valued at $36,000 after acquiring an additional 1,358 shares during the period. MeadowBrook Investment Advisors LLC acquired a new position in shares of Syndax Pharmaceuticals in the fourth quarter valued at approximately $37,000. Quadrant Capital Group LLC grew its holdings in shares of Syndax Pharmaceuticals by 158.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $53,000 after purchasing an additional 1,496 shares in the last quarter. Annandale Capital LLC acquired a new position in shares of Syndax Pharmaceuticals in the third quarter valued at approximately $67,000. Finally, Signaturefd LLC grew its holdings in shares of Syndax Pharmaceuticals by 2,874.6% in the fourth quarter. Signaturefd LLC now owns 3,748 shares of the company’s stock valued at $81,000 after purchasing an additional 3,622 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages recently weighed in on SNDX. JPMorgan Chase & Co. restated an “overweight” rating and issued a $34.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday, May 21st. Stifel Nicolaus boosted their price target on shares of Syndax Pharmaceuticals from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Citigroup lowered their price target on shares of Syndax Pharmaceuticals from $32.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, HC Wainwright reiterated a “buy” rating and set a $41.00 price target on shares of Syndax Pharmaceuticals in a report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Syndax Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $34.42.

Syndax Pharmaceuticals Trading Down 2.0 %

SNDX stock traded down $0.40 on Tuesday, hitting $19.32. The company’s stock had a trading volume of 949,648 shares, compared to its average volume of 1,101,446. The firm has a 50 day moving average of $21.12 and a two-hundred day moving average of $21.22. Syndax Pharmaceuticals, Inc. has a 1 year low of $11.22 and a 1 year high of $25.34. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -6.01 and a beta of 1.01.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.85) EPS for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.11. During the same quarter in the previous year, the company posted ($0.59) EPS. As a group, equities analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.57 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).