Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Position Raised by Prosight Management LP

Prosight Management LP grew its position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 11.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 620,000 shares of the company’s stock after acquiring an additional 65,897 shares during the quarter. Syndax Pharmaceuticals comprises about 2.3% of Prosight Management LP’s investment portfolio, making the stock its 17th largest holding. Prosight Management LP owned about 0.73% of Syndax Pharmaceuticals worth $8,196,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Barclays PLC boosted its stake in Syndax Pharmaceuticals by 143.4% during the 3rd quarter. Barclays PLC now owns 187,629 shares of the company’s stock valued at $3,612,000 after purchasing an additional 110,535 shares during the period. Jump Financial LLC raised its holdings in shares of Syndax Pharmaceuticals by 80.8% during the fourth quarter. Jump Financial LLC now owns 173,890 shares of the company’s stock valued at $2,299,000 after buying an additional 77,699 shares during the last quarter. Simplify Asset Management Inc. boosted its position in shares of Syndax Pharmaceuticals by 20.8% during the fourth quarter. Simplify Asset Management Inc. now owns 147,641 shares of the company’s stock worth $1,952,000 after buying an additional 25,456 shares during the period. abrdn plc acquired a new position in shares of Syndax Pharmaceuticals during the fourth quarter worth approximately $1,313,000. Finally, Assenagon Asset Management S.A. grew its holdings in 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 in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Citigroup cut their target price on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price objective on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Guggenheim reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th. StockNews.com upgraded shares of Syndax Pharmaceuticals to a “sell” rating in a research report on Tuesday, May 6th. Finally, HC Wainwright restated a “buy” rating and set a $51.00 price target 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 issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Syndax Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $35.91.

Syndax Pharmaceuticals Trading Down 8.9%

Shares of NASDAQ SNDX opened at $9.28 on Thursday. Syndax Pharmaceuticals, Inc. has a twelve month low of $9.24 and a twelve month high of $25.07. The firm has a 50-day moving average of $12.33 and a two-hundred day moving average of $14.27. The company has a market capitalization of $798.52 million, a price-to-earnings ratio of -2.56 and a beta of 0.82.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Monday, May 5th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.04) by $0.06. The business had revenue of $20.04 million for the quarter, compared to analyst estimates of $15.88 million. The firm’s revenue for the quarter was up 1900.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.85) earnings per share. As a group, research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current 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).