Tang Capital Management LLC Purchases Shares of 100,000 Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Tang Capital Management LLC purchased a new stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 100,000 shares of the company’s stock, valued at approximately $1,322,000. Tang Capital Management LLC owned 0.12% of Syndax Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SNDX. Octagon Capital Advisors LP acquired a new position in shares of Syndax Pharmaceuticals during the fourth quarter worth about $11,951,000. Renaissance Technologies LLC acquired a new position in shares of Syndax Pharmaceuticals during the fourth quarter worth about $9,002,000. Trexquant Investment LP lifted its stake in shares of Syndax Pharmaceuticals by 1,309.7% during the fourth quarter. Trexquant Investment LP now owns 471,292 shares of the company’s stock worth $6,230,000 after purchasing an additional 437,859 shares in the last quarter. Altium Capital Management LLC acquired a new position in shares of Syndax Pharmaceuticals during the fourth quarter worth about $4,891,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Syndax Pharmaceuticals during the fourth quarter worth about $4,734,000.

Syndax Pharmaceuticals Stock Up 1.1%

Shares of Syndax Pharmaceuticals stock opened at $9.05 on Friday. The firm has a market cap of $778.73 million, a P/E ratio of -2.49 and a beta of 0.82. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $8.58 and a fifty-two week high of $25.07. The business has a 50-day moving average price of $12.10 and a 200 day moving average price of $14.07.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings data 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 firm had revenue of $20.04 million during the quarter, compared to the consensus estimate of $15.88 million. The firm’s quarterly revenue was up 1900.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.85) earnings per share. As a group, equities research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on SNDX. HC Wainwright restated a “buy” rating and set a $51.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. Citigroup cut their price target 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. StockNews.com upgraded Syndax Pharmaceuticals to a “sell” rating in a research note on Tuesday, May 6th. Scotiabank boosted their price target on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 6th. Finally, Guggenheim reiterated a “buy” rating and issued a $32.00 price target on shares of Syndax Pharmaceuticals in a research note 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.91.

Syndax Pharmaceuticals Company 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).