GSA Capital Partners LLP Acquires 50,427 Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Key Points

• GSA Capital Partners LLP increased its holdings in Syndax Pharmaceuticals by 136.8%, purchasing an additional 50,427 shares during the first quarter, bringing their total to 87,284 shares.
• Syndax Pharmaceuticals reported a 1900.0% year-over-year increase in revenue for the last quarter, totaling $20.04 million, and outperformed analysts' EPS estimates.
• Analysts have generally rated Syndax with a consensus of "Moderate Buy", with price targets ranging from $17.00 to $35.00.

GSA Capital Partners LLP raised its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 136.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,284 shares of the company's stock after purchasing an additional 50,427 shares during the period. GSA Capital Partners LLP owned approximately 0.10% of Syndax Pharmaceuticals worth $1,072,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SNDX. Virtus ETF Advisers LLC increased its position in shares of Syndax Pharmaceuticals by 18.6% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock valued at $70,000 after purchasing an additional 827 shares during the period. Optimize Financial Inc acquired a new position in shares of Syndax Pharmaceuticals in the 4th quarter valued at $152,000. Lazard Asset Management LLC bought a new position in shares of Syndax Pharmaceuticals during the 4th quarter worth about $153,000. Guggenheim Capital LLC bought a new position in shares of Syndax Pharmaceuticals during the 4th quarter worth about $157,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Syndax Pharmaceuticals during the 1st quarter valued at about $162,000.

Syndax Pharmaceuticals Price Performance

NASDAQ:SNDX traded up $0.06 during mid-day trading on Friday, reaching $9.98. 1,732,586 shares of the company were exchanged, compared to its average volume of 1,746,071. The company has a quick ratio of 5.75, a current ratio of 5.80 and a debt-to-equity ratio of 1.53. The stock has a market cap of $858.78 million, a PE ratio of -2.59 and a beta of 0.74. Syndax Pharmaceuticals, Inc. has a 12 month low of $8.58 and a 12 month high of $22.50. The company has a fifty day moving average of $9.88 and a 200 day moving average of $11.96.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.04) by $0.06. The company had revenue of $20.04 million for the quarter, compared to analyst estimates of $15.88 million. Syndax Pharmaceuticals had a negative net margin of 757.53% and a negative return on equity of 101.60%. Syndax Pharmaceuticals's quarterly revenue was up 1900.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.85) earnings per share. On average, research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Insider Transactions at Syndax Pharmaceuticals

In other news, CEO Michael A. Metzger sold 7,534 shares of Syndax Pharmaceuticals stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $9.29, for a total value of $69,990.86. Following the completion of the sale, the chief executive officer directly owned 298,661 shares of the company's stock, valued at approximately $2,774,560.69. This trade represents a 2.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on SNDX shares. Guggenheim reissued a "buy" rating and issued a $32.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, May 6th. The Goldman Sachs Group initiated coverage on Syndax Pharmaceuticals in a report on Thursday, July 10th. They issued a "buy" rating and a $18.00 target price for the company. Wall Street Zen raised Syndax Pharmaceuticals to a "sell" rating in a research note on Tuesday, May 6th. Scotiabank increased their price objective on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a "sector perform" rating in a research note on Tuesday, May 6th. Finally, UBS Group cut their price objective on Syndax Pharmaceuticals from $37.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $34.10.

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).