Twinbeech Capital LP Acquires 157,321 Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Twinbeech Capital LP lifted its holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 79.2% in the fourth quarter, HoldingsChannel reports. The fund owned 355,900 shares of the company’s stock after buying an additional 157,321 shares during the period. Twinbeech Capital LP’s holdings in Syndax Pharmaceuticals were worth $4,705,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Octagon Capital Advisors LP bought a new stake in Syndax Pharmaceuticals during the 4th quarter valued at $11,951,000. Renaissance Technologies LLC bought a new stake in Syndax Pharmaceuticals during the 4th quarter valued at $9,002,000. Trexquant Investment LP raised its holdings in Syndax Pharmaceuticals by 1,309.7% during the 4th quarter. Trexquant Investment LP now owns 471,292 shares of the company’s stock valued at $6,230,000 after buying an additional 437,859 shares during the last quarter. Altium Capital Management LLC bought a new stake in Syndax Pharmaceuticals during the 4th quarter valued at $4,891,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Syndax Pharmaceuticals during the 4th quarter valued at $4,734,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SNDX shares. StockNews.com upgraded shares of Syndax Pharmaceuticals to a “sell” rating in a report on Tuesday, May 6th. Citigroup reduced their price objective on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Scotiabank boosted their price objective on shares of Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 6th. Guggenheim reissued a “buy” rating and set a $32.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, May 6th. Finally, HC Wainwright reissued a “buy” rating and set a $51.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Syndax Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $35.91.

Syndax Pharmaceuticals Price Performance

NASDAQ:SNDX opened at $10.57 on Wednesday. The firm’s 50-day moving average price is $11.97 and its 200-day moving average price is $13.94. The company has a market capitalization of $909.52 million, a PE ratio of -2.91 and a beta of 0.82. Syndax Pharmaceuticals, Inc. has a 1-year low of $8.58 and a 1-year high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Monday, May 5th. The company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates 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. 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 company earned ($0.85) earnings per share. Equities analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

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).