59,210 Shares in Syndax Pharmaceuticals, Inc. $SNDX Acquired by Ieq Capital LLC

Key Points

• Ieq Capital LLC has acquired a new position in Syndax Pharmaceuticals by purchasing 59,210 shares valued at approximately $727,000.
• Syndax Pharmaceuticals reported a substantial quarterly revenue of $37.96 million, significantly higher than the consensus estimate of $26.64 million, and marked a 984.5% increase compared to the prior year.
• Several research analysts have revised their target price for Syndax Pharmaceuticals, with UBS Group lowering their target to $35.00, while BTIG Research increased it to $56.00, indicating varying outlooks on the company's stock performance.

Ieq Capital LLC bought a new stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 59,210 shares of the company's stock, valued at approximately $727,000. Ieq Capital LLC owned 0.07% of Syndax Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new stake in shares of Syndax Pharmaceuticals in the 4th quarter worth about $153,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Syndax Pharmaceuticals in the 1st quarter worth approximately $162,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Syndax Pharmaceuticals in the 1st quarter worth approximately $179,000. E Fund Management Co. Ltd. raised its holdings in shares of Syndax Pharmaceuticals by 27.2% in the 1st quarter. E Fund Management Co. Ltd. now owns 16,031 shares of the company's stock worth $197,000 after purchasing an additional 3,428 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Syndax Pharmaceuticals by 795.2% during the first quarter. CWM LLC now owns 23,374 shares of the company's stock valued at $287,000 after acquiring an additional 20,763 shares during the period.

Insiders Place Their Bets

In related news, Director Dennis Podlesak sold 19,200 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $15.84, for a total transaction of $304,128.00. Following the sale, the director directly owned 191,763 shares of the company's stock, valued at approximately $3,037,525.92. This represents a 9.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael A. Metzger sold 7,534 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $9.29, for a total transaction of $69,990.86. Following the transaction, the chief executive officer owned 298,661 shares in the company, valued at $2,774,560.69. This represents a 2.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,230 shares of company stock worth $684,527. Insiders own 4.10% of the company's stock.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX traded up $0.85 during trading hours on Friday, hitting $17.04. The company's stock had a trading volume of 2,730,033 shares, compared to its average volume of 2,275,109. Syndax Pharmaceuticals, Inc. has a 52-week low of $8.58 and a 52-week high of $22.50. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -4.38 and a beta of 0.72. The company has a debt-to-equity ratio of 2.06, a current ratio of 4.71 and a quick ratio of 4.55. The business has a 50 day simple moving average of $12.22 and a two-hundred day simple moving average of $12.01.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($1.01) by $0.18. Syndax Pharmaceuticals had a negative net margin of 428.48% and a negative return on equity of 130.47%. The company had revenue of $37.96 million during the quarter, compared to analysts' expectations of $26.64 million. During the same quarter in the previous year, the company earned ($0.80) earnings per share. Syndax Pharmaceuticals's revenue for the quarter was up 984.5% on a year-over-year basis. On average, equities analysts expect that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

SNDX has been the topic of a number of research analyst reports. Guggenheim began coverage on shares of Syndax Pharmaceuticals in a research report on Thursday. They set a "buy" rating and a $34.00 price objective on the stock. B. Riley raised shares of Syndax Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, August 6th. The Goldman Sachs Group increased their target price on shares of Syndax Pharmaceuticals from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Friday. BTIG Research raised their target price on shares of Syndax Pharmaceuticals from $43.00 to $56.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, UBS Group decreased their price objective on shares of Syndax Pharmaceuticals from $37.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $38.89.

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).