Aigen Investment Management LP Acquires Shares of 24,158 Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Key Points

• Aigen Investment Management LP has purchased 24,158 shares of Syndax Pharmaceuticals, valued at approximately $297,000, as part of their investment strategy in the 1st quarter.
• Several institutional investors have increased their stakes in Syndax Pharmaceuticals, with Virtus ETF Advisers LLC lifting its holdings by 18.6% in the fourth quarter.
• Syndax Pharmaceuticals has received mixed ratings from analysts, with a consensus price target of $36.91, indicating a "Moderate Buy" sentiment among market experts.

Aigen Investment Management LP bought a new stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 24,158 shares of the company's stock, valued at approximately $297,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SNDX. Invesco Ltd. grew its holdings in shares of Syndax Pharmaceuticals by 49.7% in the first quarter. Invesco Ltd. now owns 76,848 shares of the company's stock valued at $944,000 after acquiring an additional 25,524 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Syndax Pharmaceuticals by 127.7% in the first quarter. Deutsche Bank AG now owns 204,732 shares of the company's stock worth $2,516,000 after purchasing an additional 114,828 shares during the period. Thornburg Investment Management Inc. increased its holdings in shares of Syndax Pharmaceuticals by 13.6% in the first quarter. Thornburg Investment Management Inc. now owns 130,746 shares of the company's stock worth $1,606,000 after purchasing an additional 15,659 shares during the period. XTX Topco Ltd bought a new position in Syndax Pharmaceuticals in the first quarter valued at $783,000. Finally, GSA Capital Partners LLP increased its stake in Syndax Pharmaceuticals by 136.8% in the first quarter. GSA Capital Partners LLP now owns 87,284 shares of the company's stock valued at $1,072,000 after acquiring an additional 50,427 shares during the last quarter.

Syndax Pharmaceuticals Stock Up 6.9%

NASDAQ:SNDX traded up $1.01 during midday trading on Friday, reaching $15.74. 5,088,662 shares of the stock traded hands, compared to its average volume of 2,711,642. Syndax Pharmaceuticals, Inc. has a 12-month low of $8.58 and a 12-month high of $22.50. The business has a 50-day moving average of $10.35 and a two-hundred day moving average of $11.89. The company has a debt-to-equity ratio of 2.06, a quick ratio of 4.55 and a current ratio of 4.71. The stock has a market capitalization of $1.36 billion, a PE ratio of -4.05 and a beta of 0.74.

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

Insider Buying and Selling at Syndax Pharmaceuticals

In related news, CEO Michael A. Metzger sold 7,534 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $9.29, for a total transaction of $69,990.86. Following the completion of the transaction, the chief executive officer owned 298,661 shares of the company's stock, valued at $2,774,560.69. This trade represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.10% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SNDX. UBS Group reduced their price objective on Syndax Pharmaceuticals from $37.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Guggenheim reiterated a "buy" rating and set a $32.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th. The Goldman Sachs Group initiated coverage on shares of Syndax Pharmaceuticals in a report on Thursday, July 10th. They issued a "buy" rating and a $18.00 price objective for the company. Citigroup lifted their target price on shares of Syndax Pharmaceuticals from $46.00 to $51.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, B. Riley upgraded shares of Syndax Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, August 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $36.91.

Syndax Pharmaceuticals 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).