Propel Bio Management LLC Buys 50,000 Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Propel Bio Management LLC raised its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 60.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 133,259 shares of the company’s stock after acquiring an additional 50,000 shares during the period. Syndax Pharmaceuticals makes up 1.5% of Propel Bio Management LLC’s portfolio, making the stock its 13th largest holding. Propel Bio Management LLC’s holdings in Syndax Pharmaceuticals were worth $2,565,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of SNDX. Quantbot Technologies LP purchased a new position in shares of Syndax Pharmaceuticals during the third quarter valued at about $49,000. FMR LLC grew its holdings in Syndax Pharmaceuticals by 33.6% during the 3rd quarter. FMR LLC now owns 49,248 shares of the company’s stock valued at $948,000 after buying an additional 12,377 shares in the last quarter. Algert Global LLC increased its stake in Syndax Pharmaceuticals by 9.9% in the 3rd quarter. Algert Global LLC now owns 474,998 shares of the company’s stock worth $9,144,000 after acquiring an additional 42,870 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Syndax Pharmaceuticals by 6.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 695,947 shares of the company’s stock worth $13,397,000 after acquiring an additional 41,458 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Syndax Pharmaceuticals during the 3rd quarter valued at approximately $429,000.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX stock opened at $16.74 on Tuesday. The stock has a 50 day moving average price of $18.57 and a 200 day moving average price of $19.93. The firm has a market capitalization of $1.43 billion, a P/E ratio of -4.61 and a beta of 0.92. Syndax Pharmaceuticals, Inc. has a 52-week low of $15.00 and a 52-week high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.13) by $0.15. The business had revenue of $12.50 million for the quarter, compared to the consensus estimate of $9.16 million. During the same quarter last year, the business posted ($0.73) earnings per share. As a group, sell-side analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.69 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SNDX. HC Wainwright boosted their price target on shares of Syndax Pharmaceuticals from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Barclays upped their target price on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. The Goldman Sachs Group lifted their price target on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus upped their price objective on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. lifted their target price on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.64.

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).