Eversept Partners LP Reduces Stock Position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Eversept Partners LP lowered its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 91.6% in the 4th quarter, HoldingsChannel reports. The fund owned 343,400 shares of the company’s stock after selling 3,761,913 shares during the period. Eversept Partners LP’s holdings in Syndax Pharmaceuticals were worth $4,540,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SNDX. Assenagon Asset Management S.A. grew its stake in shares of Syndax Pharmaceuticals by 343.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,064,456 shares of the company’s stock valued at $27,292,000 after buying an additional 1,598,428 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Syndax Pharmaceuticals in the fourth quarter worth $9,002,000. Trexquant Investment LP boosted 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 valued at $6,230,000 after purchasing an additional 437,859 shares during the period. Altium Capital Management LLC purchased a new position in Syndax Pharmaceuticals in the 4th quarter worth about $4,891,000. Finally, Walleye Capital LLC grew its stake in Syndax Pharmaceuticals by 831.3% in the 4th quarter. Walleye Capital LLC now owns 364,750 shares of the company’s stock worth $4,822,000 after acquiring an additional 325,585 shares in the last quarter.

Wall Street Analysts Forecast Growth

SNDX has been the topic of several research reports. Citigroup reduced their price objective on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. JPMorgan Chase & Co. raised their target price on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Scotiabank reduced their target price on Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 8th. StockNews.com upgraded shares of Syndax Pharmaceuticals to a “sell” rating in a research note on Thursday, April 10th. Finally, HC Wainwright restated a “buy” rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals 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 nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.20.

Insider Activity

In related news, insider Neil Gallagher sold 4,618 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $71,579.00. Following the completion of the transaction, the insider now owns 85,095 shares in the company, valued at approximately $1,318,972.50. The trade was a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael A. Metzger sold 13,288 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $205,964.00. Following the completion of the sale, the chief executive officer now owns 300,121 shares in the company, valued at approximately $4,651,875.50. The trade was a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,683 shares of company stock valued at $336,087. Company insiders own 4.10% of the company’s stock.

Syndax Pharmaceuticals Stock Up 3.4 %

Shares of NASDAQ:SNDX opened at $11.93 on Tuesday. The business has a fifty day moving average of $13.22 and a two-hundred day moving average of $14.99. The stock has a market cap of $1.03 billion, a P/E ratio of -3.29 and a beta of 1.28. Syndax Pharmaceuticals, Inc. has a 52-week low of $9.66 and a 52-week high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Monday, March 3rd. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.79). The business had revenue of $7.68 million during the quarter, compared to the consensus estimate of $86.32 million. On average, equities analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current 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).