GSA Capital Partners LLP Purchases 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 boosted its position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 136.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 87,284 shares of the company's stock after purchasing an additional 50,427 shares during the quarter. GSA Capital Partners LLP owned about 0.10% of Syndax Pharmaceuticals worth $1,072,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Virtus ETF Advisers LLC grew its stake in shares of Syndax Pharmaceuticals by 18.6% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock worth $70,000 after purchasing an additional 827 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Syndax Pharmaceuticals by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,748 shares of the company's stock worth $706,000 after purchasing an additional 1,811 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Syndax Pharmaceuticals by 6.2% during the 4th quarter. MetLife Investment Management LLC now owns 50,515 shares of the company's stock worth $668,000 after purchasing an additional 2,961 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Syndax Pharmaceuticals by 2.5% during the 1st quarter. Bank of New York Mellon Corp now owns 229,758 shares of the company's stock worth $2,823,000 after acquiring an additional 5,497 shares in the last quarter. Finally, DnB Asset Management AS grew its holdings in Syndax Pharmaceuticals by 32.1% during the fourth quarter. DnB Asset Management AS now owns 22,943 shares of the company's stock valued at $303,000 after purchasing an additional 5,581 shares during the last quarter.

Analyst Ratings Changes

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

Syndax Pharmaceuticals Trading Up 1.1%

Shares of Syndax Pharmaceuticals stock traded up $0.11 on Monday, hitting $10.09. 752,475 shares of the company's stock traded hands, compared to its average volume of 2,137,315. The firm's 50-day moving average price is $9.88 and its two-hundred day moving average price is $11.93. The company has a debt-to-equity ratio of 1.53, a current ratio of 5.80 and a quick ratio of 5.75. The stock has a market capitalization of $868.24 million, a PE ratio of -2.58 and a beta of 0.74. Syndax Pharmaceuticals, Inc. has a one year low of $8.58 and a one year high of $22.50.

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

Insider Buying and Selling

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 7,534 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $9.29, for a total value of $69,990.86. Following the sale, the chief executive officer directly owned 298,661 shares in the company, valued at approximately $2,774,560.69. This trade represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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).