Exome Asset Management LLC Increases Stake in Syndax Pharmaceuticals, Inc. $SNDX

Key Points

• Exome Asset Management LLC increased its holdings in Syndax Pharmaceuticals by 5.7%, now owning about 337,198 shares, making it a significant part of their investment portfolio.
• Analysts have raised price targets on Syndax Pharmaceuticals, with BTIG Research setting a new target of $56.00 and an overall average price target of $38.89.
• Syndax's CEO sold over 157,000 shares recently, revealing a 34.50% decrease in personal stake, amid ongoing insider transactions within the company.

Exome Asset Management LLC boosted its position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 5.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 337,198 shares of the company's stock after purchasing an additional 18,298 shares during the period. Syndax Pharmaceuticals makes up about 3.5% of Exome Asset Management LLC's portfolio, making the stock its 5th largest holding. Exome Asset Management LLC owned 0.39% of Syndax Pharmaceuticals worth $4,142,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Tang Capital Management LLC acquired a new stake in Syndax Pharmaceuticals in the fourth quarter worth approximately $1,322,000. Polar Asset Management Partners Inc. bought a new position in shares of Syndax Pharmaceuticals in the fourth quarter valued at $1,124,000. 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 valued at $2,516,000 after buying an additional 114,828 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Syndax Pharmaceuticals in the first quarter valued at $783,000. Finally, Aigen Investment Management LP bought a new position in shares of Syndax Pharmaceuticals in the first quarter valued at $297,000.

Insider Activity at Syndax Pharmaceuticals

In other news, CEO Michael A. Metzger sold 157,307 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $16.41, for a total transaction of $2,581,407.87. Following the sale, the chief executive officer directly owned 298,661 shares of the company's stock, valued at $4,901,027.01. This represents a 34.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dennis Podlesak sold 19,200 shares of the stock in a transaction that occurred on 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 in the company, valued at $3,037,525.92. This trade represents a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 204,537 shares of company stock worth $3,265,935 over the last three months. 4.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SNDX has been the topic of several research reports. Stifel Nicolaus initiated coverage on Syndax Pharmaceuticals in a report on Wednesday. They issued a "buy" rating and a $44.00 price target on the stock. BTIG Research upped their price target on Syndax Pharmaceuticals from $43.00 to $56.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Citigroup upped their price target on Syndax Pharmaceuticals from $46.00 to $51.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. The Goldman Sachs Group upped their price target on Syndax Pharmaceuticals from $20.00 to $24.00 and gave the company a "buy" rating in a report on Friday, September 5th. Finally, B. Riley raised Syndax Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $39.22.

Syndax Pharmaceuticals Stock Performance

SNDX stock traded down $0.82 during mid-day trading on Friday, reaching $15.55. 1,706,985 shares of the stock traded hands, compared to its average volume of 1,880,587. The company has a quick ratio of 4.55, a current ratio of 4.71 and a debt-to-equity ratio of 2.06. The business has a 50-day moving average of $12.90 and a two-hundred day moving average of $11.99. Syndax Pharmaceuticals, Inc. has a 52 week low of $8.58 and a 52 week high of $22.50. The firm has a market capitalization of $1.34 billion, a PE ratio of -4.00 and a beta of 0.72.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its quarterly earnings results 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 business had revenue of $37.96 million for the quarter, compared to analysts' expectations of $26.64 million. During the same period in the prior year, the firm earned ($0.80) earnings per share. Syndax Pharmaceuticals's revenue was up 984.5% compared to the same quarter last year. As a group, equities analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

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).