Altium Capital Management LLC Makes New $4.89 Million Investment in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Altium Capital Management LLC acquired a new position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 370,000 shares of the company's stock, valued at approximately $4,891,000. Syndax Pharmaceuticals makes up 1.4% of Altium Capital Management LLC's investment portfolio, making the stock its 27th biggest holding. Altium Capital Management LLC owned approximately 0.43% of Syndax Pharmaceuticals as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Syndax Pharmaceuticals during the fourth quarter worth about $26,000. Cape Investment Advisory Inc. boosted its holdings in shares of Syndax Pharmaceuticals by 157.1% during the fourth quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company's stock worth $85,000 after purchasing an additional 3,927 shares during the last quarter. KBC Group NV boosted its stake in Syndax Pharmaceuticals by 104.8% in the 4th quarter. KBC Group NV now owns 6,954 shares of the company's stock worth $92,000 after buying an additional 3,559 shares during the last quarter. Optimize Financial Inc acquired a new position in shares of Syndax Pharmaceuticals during the 4th quarter valued at about $152,000. Finally, Guggenheim Capital LLC purchased a new position in shares of Syndax Pharmaceuticals during the 4th quarter worth about $157,000.

Syndax Pharmaceuticals Price Performance

NASDAQ:SNDX traded down $0.06 during mid-day trading on Wednesday, reaching $12.86. The stock had a trading volume of 530,714 shares, compared to its average volume of 1,586,545. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -3.54 and a beta of 1.28. Syndax Pharmaceuticals, Inc. has a 1-year low of $9.66 and a 1-year high of $25.07. The stock's 50 day simple moving average is $13.17 and its two-hundred day simple moving average is $14.97.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($1.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.79). The firm had revenue of $7.68 million during the quarter, compared to analyst estimates of $86.32 million. Sell-side analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on SNDX. Scotiabank cut their price target on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a "sector perform" rating on the stock in a research note on Wednesday, January 8th. Citigroup cut their target price on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. HC Wainwright restated a "buy" rating and issued a $51.00 price target on shares of Syndax Pharmaceuticals in a report on Tuesday, March 4th. StockNews.com raised shares of Syndax Pharmaceuticals to a "sell" rating in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Syndax Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.20.

Insiders Place Their Bets

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 13,288 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $15.50, for a total value of $205,964.00. Following the sale, the chief executive officer now directly owns 300,121 shares in the company, valued at approximately $4,651,875.50. This trade represents a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Keith A. Goldan sold 3,777 shares of Syndax Pharmaceuticals stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $58,543.50. Following the completion of the sale, the chief financial officer now owns 90,746 shares in the company, valued at approximately $1,406,563. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 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).