Sphera Funds Management LTD. Raises Position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Sphera Funds Management LTD. lifted its position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 33.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,381,241 shares of the company’s stock after purchasing an additional 346,395 shares during the quarter. Syndax Pharmaceuticals comprises about 3.3% of Sphera Funds Management LTD.’s investment portfolio, making the stock its 4th biggest position. Sphera Funds Management LTD. owned about 1.62% of Syndax Pharmaceuticals worth $18,260,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Virtus ETF Advisers LLC grew 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 acquiring an additional 827 shares in the last quarter. E Fund Management Co. Ltd. grew its position in Syndax Pharmaceuticals by 14.4% in the fourth quarter. E Fund Management Co. Ltd. now owns 12,603 shares of the company’s stock worth $167,000 after acquiring an additional 1,583 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Syndax Pharmaceuticals by 10.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,099 shares of the company’s stock worth $239,000 after acquiring an additional 1,732 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Syndax Pharmaceuticals by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,748 shares of the company’s stock worth $706,000 after acquiring an additional 1,811 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Syndax Pharmaceuticals in the fourth quarter worth about $26,000.

Syndax Pharmaceuticals Stock Performance

Shares of NASDAQ SNDX opened at $8.95 on Friday. The firm has a market capitalization of $770.12 million, a price-to-earnings ratio of -2.47 and a beta of 0.82. The stock has a 50 day moving average price of $12.18 and a 200 day moving average price of $14.17. Syndax Pharmaceuticals, Inc. has a 52-week low of $8.58 and a 52-week high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.06. The firm had revenue of $20.04 million during the quarter, compared to analysts’ expectations of $15.88 million. The firm’s revenue for the quarter was up 1900.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.85) EPS. Analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. 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. JPMorgan Chase & Co. lifted their price target on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. 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. StockNews.com upgraded Syndax Pharmaceuticals to a “sell” rating in a research report on Tuesday, May 6th. Finally, Citigroup dropped 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Syndax Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target 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).