Trexquant Investment LP Decreases Stock Position in Syndax Pharmaceuticals, Inc. $SNDX

Key Points

• Trexquant Investment LP reduced its holdings in Syndax Pharmaceuticals by 18% in the first quarter, now owning 386,263 shares worth approximately $4.75 million.
• Analysts have varied price targets for Syndax Pharmaceuticals, with Citigroup raising it from $46 to $51, while UBS lowered its target from $37 to $35; the average consensus target price is currently $38.
• Syndax Pharmaceuticals reported a revenue of $37.96 million for the last quarter, significantly exceeding analyst expectations and marking an increase of 984.5% compared to the same period last year.

Trexquant Investment LP trimmed its position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 18.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 386,263 shares of the company's stock after selling 85,029 shares during the period. Trexquant Investment LP owned 0.45% of Syndax Pharmaceuticals worth $4,745,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Soleus Capital Management L.P. boosted its holdings in shares of Syndax Pharmaceuticals by 128.4% in the fourth quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company's stock worth $32,944,000 after acquiring an additional 1,401,016 shares during the period. Sphera Funds Management LTD. boosted its holdings in shares of Syndax Pharmaceuticals by 33.5% in the fourth quarter. Sphera Funds Management LTD. now owns 1,381,241 shares of the company's stock worth $18,260,000 after acquiring an additional 346,395 shares during the period. Granahan Investment Management LLC boosted its holdings in shares of Syndax Pharmaceuticals by 36.2% in the fourth quarter. Granahan Investment Management LLC now owns 905,322 shares of the company's stock worth $11,968,000 after acquiring an additional 240,557 shares during the period. Octagon Capital Advisors LP bought a new position in shares of Syndax Pharmaceuticals in the fourth quarter worth $11,951,000. Finally, Algert Global LLC boosted its holdings in shares of Syndax Pharmaceuticals by 12.6% in the first quarter. Algert Global LLC now owns 884,600 shares of the company's stock worth $10,867,000 after acquiring an additional 98,968 shares during the period.

Insider Transactions at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 7,534 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $9.29, for a total transaction of $69,990.86. Following the sale, the chief executive officer owned 298,661 shares in the company, valued at $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 available at this hyperlink. Also, Director Dennis Podlesak sold 19,200 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $15.84, for a total value of $304,128.00. Following the sale, the director owned 191,763 shares in the company, valued at $3,037,525.92. The trade was a 9.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,230 shares of company stock worth $684,527 in the last 90 days. Company insiders own 4.10% of the company's stock.

Syndax Pharmaceuticals Price Performance

NASDAQ SNDX traded up $0.85 during trading hours on Friday, reaching $17.04. 2,730,033 shares of the stock traded hands, compared to its average volume of 2,275,109. The stock has a 50 day simple moving average of $12.22 and a two-hundred day simple moving average of $12.01. Syndax Pharmaceuticals, Inc. has a 1 year low of $8.58 and a 1 year high of $22.50. 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 company has a market cap of $1.47 billion, a price-to-earnings ratio of -4.38 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) earnings per share for the quarter, beating analysts' consensus estimates of ($1.01) by $0.18. Syndax Pharmaceuticals had a negative return on equity of 130.47% and a negative net margin of 428.48%.The business had revenue of $37.96 million for the quarter, compared to the consensus estimate of $26.64 million. During the same quarter last year, the business posted ($0.80) earnings per share. The company's revenue for the quarter was up 984.5% on a year-over-year basis. On average, analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SNDX has been the subject of a number of analyst reports. UBS Group cut their price target on Syndax Pharmaceuticals from $37.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. BTIG Research raised their price target on Syndax Pharmaceuticals from $43.00 to $56.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. B. Riley raised Syndax Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, August 6th. Guggenheim assumed coverage on Syndax Pharmaceuticals in a research report on Thursday. They issued a "buy" rating and a $34.00 price objective on the stock. Finally, Citigroup increased their price objective on Syndax Pharmaceuticals from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $38.89.

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).