Quantbot Technologies LP Acquires Shares of 2,542 Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Quantbot Technologies LP bought a new position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) during the third quarter, according to its most recent filing with the SEC. The fund bought 2,542 shares of the company’s stock, valued at approximately $49,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sofinnova Investments Inc. raised its position in Syndax Pharmaceuticals by 33.9% in the second quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock worth $44,215,000 after acquiring an additional 545,129 shares during the period. First Turn Management LLC increased its stake in shares of Syndax Pharmaceuticals by 85.4% during the 3rd quarter. First Turn Management LLC now owns 1,187,165 shares of the company’s stock worth $22,853,000 after purchasing an additional 546,776 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Syndax Pharmaceuticals by 56.3% in the 2nd quarter. Millennium Management LLC now owns 1,065,508 shares of the company’s stock worth $21,875,000 after purchasing an additional 383,634 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Syndax Pharmaceuticals in the third quarter valued at approximately $15,165,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Syndax Pharmaceuticals by 6.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 695,947 shares of the company’s stock valued at $13,397,000 after purchasing an additional 41,458 shares during the period.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ:SNDX opened at $17.01 on Friday. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -4.69 and a beta of 0.86. Syndax Pharmaceuticals, Inc. has a one year low of $15.00 and a one year high of $25.34. The firm has a fifty day moving average price of $18.29 and a two-hundred day moving average price of $19.66.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.13) by $0.15. The business had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $9.16 million. During the same quarter in the previous year, the firm earned ($0.73) earnings per share. Equities research analysts expect that Syndax Pharmaceuticals, Inc. will post -2.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on SNDX shares. JPMorgan Chase & Co. boosted their target price on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Stifel Nicolaus boosted their price objective on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Monday, October 14th. StockNews.com lowered shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. HC Wainwright boosted their price target on shares of Syndax Pharmaceuticals from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Finally, UBS Group assumed coverage on shares of Syndax Pharmaceuticals in a report on Thursday, October 24th. They issued a “buy” rating and a $37.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Syndax Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $37.64.

Syndax Pharmaceuticals 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).