Avoro Capital Advisors LLC Has $30.08 Million Stock Position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Avoro Capital Advisors LLC cut its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 41.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,275,000 shares of the company's stock after selling 1,613,437 shares during the period. Avoro Capital Advisors LLC owned about 2.67% of Syndax Pharmaceuticals worth $30,076,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new position in Syndax Pharmaceuticals during the fourth quarter worth $26,000. Cape Investment Advisory Inc. increased its position in shares of Syndax Pharmaceuticals by 157.1% during the 4th 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 in the last quarter. KBC Group NV increased its position in shares of Syndax Pharmaceuticals by 104.8% during the 4th quarter. KBC Group NV now owns 6,954 shares of the company's stock worth $92,000 after purchasing an additional 3,559 shares in the last quarter. Optimize Financial Inc bought a new position in Syndax Pharmaceuticals during the 4th quarter valued at about $152,000. Finally, Guggenheim Capital LLC acquired a new position in Syndax Pharmaceuticals in the fourth quarter valued at about $157,000.

Insider Buying and Selling

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

Syndax Pharmaceuticals Stock Up 0.2 %

Shares of SNDX traded up $0.03 during midday trading on Friday, reaching $13.33. 756,269 shares of the stock were exchanged, compared to its average volume of 1,591,882. The stock's 50 day simple moving average is $13.10 and its 200 day simple moving average is $14.93. The company has a market cap of $1.15 billion, a P/E ratio of -3.67 and a beta of 1.28. Syndax Pharmaceuticals, Inc. has a twelve month low of $9.66 and a twelve month high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($1.10) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.79). The business had revenue of $7.68 million during the quarter, compared to analysts' expectations of $86.32 million. As a group, analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

SNDX has been the subject of several recent analyst reports. Scotiabank dropped their price objective on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a "sector perform" rating for the company in a report on Wednesday, January 8th. StockNews.com raised Syndax Pharmaceuticals to a "sell" rating in a research note on Thursday, April 10th. Citigroup lowered their target price 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. HC Wainwright reiterated a "buy" rating and set a $51.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. increased 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 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's stock. According to data from MarketBeat.com, Syndax Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $36.20.

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).