Tang Capital Management LLC Takes Position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Tang Capital Management LLC acquired a new position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $1,322,000.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC increased its position in Syndax Pharmaceuticals by 143.4% in the 3rd quarter. Barclays PLC now owns 187,629 shares of the company’s stock valued at $3,612,000 after acquiring an additional 110,535 shares during the period. Jump Financial LLC increased its position in Syndax Pharmaceuticals by 80.8% in the 4th quarter. Jump Financial LLC now owns 173,890 shares of the company’s stock valued at $2,299,000 after acquiring an additional 77,699 shares during the period. Simplify Asset Management Inc. increased its position in Syndax Pharmaceuticals by 20.8% in the 4th quarter. Simplify Asset Management Inc. now owns 147,641 shares of the company’s stock valued at $1,952,000 after acquiring an additional 25,456 shares during the period. Octagon Capital Advisors LP acquired a new stake in Syndax Pharmaceuticals in the 4th quarter valued at approximately $11,951,000. Finally, abrdn plc acquired a new stake in Syndax Pharmaceuticals in the 4th quarter valued at approximately $1,313,000.

Analyst Ratings Changes

Several analysts recently commented on SNDX shares. Scotiabank raised their target price on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. raised their target price on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Guggenheim reaffirmed a “buy” rating and set a $32.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 6th. StockNews.com raised Syndax Pharmaceuticals to a “sell” rating in a research note on Tuesday, May 6th. Finally, Citigroup decreased their price target on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Syndax Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $35.91.

Syndax Pharmaceuticals Stock Up 1.1%

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

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.04) by $0.06. The company had revenue of $20.04 million for the quarter, compared to the consensus estimate of $15.88 million. The business’s revenue was up 1900.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.85) earnings per share. On average, equities research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

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).