Panagora Asset Management Inc. Cuts Stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Panagora Asset Management Inc. trimmed its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 65.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,849 shares of the company's stock after selling 154,157 shares during the quarter. Panagora Asset Management Inc. owned 0.10% of Syndax Pharmaceuticals worth $1,701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in SNDX. BVF Inc. IL acquired a new stake in Syndax Pharmaceuticals during the fourth quarter valued at approximately $40,519,000. Avoro Capital Advisors LLC boosted its holdings in shares of Syndax Pharmaceuticals by 65.2% in the 4th quarter. Avoro Capital Advisors LLC now owns 4,222,222 shares of the company's stock worth $91,242,000 after acquiring an additional 1,666,667 shares in the last quarter. Kynam Capital Management LP boosted its holdings in shares of Syndax Pharmaceuticals by 41.5% in the 4th quarter. Kynam Capital Management LP now owns 5,660,000 shares of the company's stock worth $122,313,000 after acquiring an additional 1,660,000 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Syndax Pharmaceuticals in the 4th quarter worth approximately $29,236,000. Finally, Avidity Partners Management LP boosted its holdings in shares of Syndax Pharmaceuticals by 40.0% in the 4th quarter. Avidity Partners Management LP now owns 3,950,000 shares of the company's stock worth $85,360,000 after acquiring an additional 1,129,000 shares in the last quarter.

Syndax Pharmaceuticals Price Performance

Shares of Syndax Pharmaceuticals stock traded up $0.34 on Friday, hitting $20.55. 576,748 shares of the company's stock traded hands, compared to its average volume of 811,714. The firm's 50-day moving average price is $21.37 and its two-hundred day moving average price is $21.60. The stock has a market capitalization of $1.75 billion, a PE ratio of -6.38 and a beta of 0.94. Syndax Pharmaceuticals, Inc. has a one year low of $11.22 and a one year high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($0.91) by $0.11. The business had revenue of $3.50 million for the quarter. The business's revenue was up 3499999990.0% on a year-over-year basis. During the same period last year, the firm earned ($0.64) EPS. On average, analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.66 earnings per share for the current fiscal year.

Insider Activity at Syndax Pharmaceuticals

In other news, CFO Keith A. Goldan acquired 1,250 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average price of $20.03 per share, for a total transaction of $25,037.50. Following the transaction, the chief financial officer now directly owns 52,623 shares in the company, valued at $1,054,038.69. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SNDX has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Syndax Pharmaceuticals from $34.00 to $33.00 and set an "overweight" rating on the stock in a report on Tuesday, August 6th. Jefferies Financial Group assumed coverage on Syndax Pharmaceuticals in a report on Friday, June 28th. They issued a "buy" rating and a $37.00 target price on the stock. Stifel Nicolaus boosted their price objective on shares of Syndax Pharmaceuticals from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, June 26th. Citigroup boosted their price objective on shares of Syndax Pharmaceuticals from $30.00 to $34.00 and gave the stock a "buy" rating in a research report on Friday, August 16th. Finally, HC Wainwright boosted their price objective on shares of Syndax Pharmaceuticals from $41.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $35.33.

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).