680,965 Shares in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC purchased a new position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 680,965 shares of the company's stock, valued at approximately $9,002,000. Renaissance Technologies LLC owned 0.80% of Syndax Pharmaceuticals at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. R Squared Ltd bought a new stake in Syndax Pharmaceuticals in the 4th quarter valued at approximately $26,000. Cape Investment Advisory Inc. boosted its stake 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 acquiring an additional 3,927 shares during the period. KBC Group NV grew 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 valued at $92,000 after buying an additional 3,559 shares during the last quarter. E Fund Management Co. Ltd. grew its holdings in Syndax Pharmaceuticals by 14.4% in the 4th quarter. E Fund Management Co. Ltd. now owns 12,603 shares of the company's stock valued at $167,000 after buying an additional 1,583 shares in the last quarter. Finally, Aristides Capital LLC acquired a new position in shares of Syndax Pharmaceuticals during the 4th quarter worth approximately $197,000.

Syndax Pharmaceuticals Price Performance

SNDX stock traded up $0.45 during midday trading on Wednesday, hitting $13.37. The stock had a trading volume of 204,505 shares, compared to its average volume of 1,585,428. The business has a 50-day moving average of $13.17 and a two-hundred day moving average of $14.97. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -3.68 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 - Get Free Report) last released 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 firm had revenue of $7.68 million for the quarter, compared to analysts' expectations of $86.32 million. Research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Wall Street Analyst Weigh In

SNDX has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Citigroup decreased their price objective on Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. StockNews.com raised Syndax Pharmaceuticals to a "sell" rating in a research note on Thursday, April 10th. Scotiabank cut their target price 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. Finally, HC Wainwright reissued a "buy" rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to MarketBeat, Syndax Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $36.20.

Insider Buying and Selling

In other news, CEO Michael A. Metzger sold 13,288 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction 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 represents a 4.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Neil Gallagher sold 4,618 shares of the stock in a transaction dated 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 directly owns 85,095 shares in the company, valued at approximately $1,318,972.50. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,683 shares of company stock worth $336,087 in the last three months. Insiders own 4.10% of the company's stock.

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).