Sphera Funds Management LTD. Has $18.26 Million Position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Sphera Funds Management LTD. increased its holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 33.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,381,241 shares of the company’s stock after purchasing an additional 346,395 shares during the quarter. Syndax Pharmaceuticals accounts for about 3.3% of Sphera Funds Management LTD.’s holdings, making the stock its 4th biggest holding. Sphera Funds Management LTD.’s holdings in Syndax Pharmaceuticals were worth $18,260,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Rafferty Asset Management LLC raised its stake in Syndax Pharmaceuticals by 3.9% in the fourth quarter. Rafferty Asset Management LLC now owns 178,165 shares of the company’s stock worth $2,355,000 after buying an additional 6,643 shares in the last quarter. Polar Asset Management Partners Inc. bought a new position in Syndax Pharmaceuticals in the fourth quarter worth approximately $1,124,000. ProShare Advisors LLC raised its stake in Syndax Pharmaceuticals by 32.2% in the fourth quarter. ProShare Advisors LLC now owns 27,183 shares of the company’s stock worth $359,000 after buying an additional 6,627 shares in the last quarter. Prosight Management LP raised its stake in Syndax Pharmaceuticals by 11.9% in the fourth quarter. Prosight Management LP now owns 620,000 shares of the company’s stock worth $8,196,000 after buying an additional 65,897 shares in the last quarter. Finally, Parkman Healthcare Partners LLC raised its stake in Syndax Pharmaceuticals by 3.7% in the fourth quarter. Parkman Healthcare Partners LLC now owns 526,973 shares of the company’s stock worth $6,967,000 after buying an additional 18,690 shares in the last quarter.

Syndax Pharmaceuticals Price Performance

NASDAQ SNDX opened at $8.95 on Friday. The stock’s fifty day moving average price is $12.18 and its 200 day moving average price is $14.17. Syndax Pharmaceuticals, Inc. has a 1 year low of $8.58 and a 1 year high of $25.07. The company has a market cap of $770.12 million, a price-to-earnings ratio of -2.47 and a beta of 0.82.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $15.88 million. During the same period in the previous year, the company posted ($0.85) earnings per share. Syndax Pharmaceuticals’s revenue for the quarter was up 1900.0% compared to the same quarter last year. Research analysts expect that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SNDX shares. Guggenheim reaffirmed a “buy” rating and set a $32.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, May 6th. JPMorgan Chase & Co. upped 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 reaffirmed a “buy” rating and set a $51.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. StockNews.com raised Syndax Pharmaceuticals to a “sell” rating in a research report on Tuesday, May 6th. Finally, Scotiabank upped their price target on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 6th. One 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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).