Walleye Capital LLC Has $4.02 Million Stake in Syndax Pharmaceuticals, Inc. $SNDX

Key Points

• Walleye Capital LLC has reduced its stake in Syndax Pharmaceuticals by 10.3%, now owning 327,134 shares valued at approximately $4.02 million.
• Syndax Pharmaceuticals reported a significant 984.5% increase in quarterly revenue compared to the same period last year, totaling $37.96 million, while beating earnings per share estimates.
• Several analysts have given Syndax Pharmaceuticals a consensus rating of "Buy", with target prices ranging from $17.00 to $51.00 per share.

Walleye Capital LLC reduced its holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 327,134 shares of the company's stock after selling 37,616 shares during the quarter. Walleye Capital LLC owned about 0.38% of Syndax Pharmaceuticals worth $4,019,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. AlphaQuest LLC grew its position in shares of Syndax Pharmaceuticals by 66.4% in the first quarter. AlphaQuest LLC now owns 39,317 shares of the company's stock valued at $483,000 after purchasing an additional 15,694 shares during the last quarter. Algert Global LLC grew its position 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 valued at $10,867,000 after purchasing an additional 98,968 shares during the last quarter. Aberdeen Group plc grew its position in shares of Syndax Pharmaceuticals by 33.3% in the first quarter. Aberdeen Group plc now owns 132,433 shares of the company's stock valued at $1,627,000 after purchasing an additional 33,093 shares during the last quarter. E Fund Management Co. Ltd. grew its position in shares of Syndax Pharmaceuticals by 27.2% in the first quarter. E Fund Management Co. Ltd. now owns 16,031 shares of the company's stock valued at $197,000 after purchasing an additional 3,428 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Syndax Pharmaceuticals by 305.3% in the first quarter. Russell Investments Group Ltd. now owns 117,613 shares of the company's stock valued at $1,445,000 after purchasing an additional 88,591 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. 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. UBS Group reduced their target price on shares of Syndax Pharmaceuticals from $37.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. B. Riley upgraded shares of Syndax Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, August 6th. Scotiabank increased their target price on shares of Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 6th. Finally, BTIG Research increased their target price on shares of Syndax Pharmaceuticals from $43.00 to $56.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. One 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 data from MarketBeat.com, Syndax Pharmaceuticals presently has an average rating of "Buy" and an average target price of $38.00.

Syndax Pharmaceuticals Price Performance

SNDX traded up $0.01 during midday trading on Friday, reaching $16.33. 1,608,802 shares of the company's stock were exchanged, compared to its average volume of 3,036,391. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -4.20 and a beta of 0.74. The company has a quick ratio of 4.55, a current ratio of 4.71 and a debt-to-equity ratio of 2.06. Syndax Pharmaceuticals, Inc. has a one year low of $8.58 and a one year high of $22.50. The business has a 50-day simple moving average of $11.49 and a two-hundred day simple moving average of $11.98.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported ($0.83) EPS for the quarter, topping analysts' consensus estimates of ($1.01) by $0.18. The firm had revenue of $37.96 million during the quarter, compared to analysts' expectations of $26.64 million. Syndax Pharmaceuticals had a negative net margin of 428.48% and a negative return on equity of 130.47%. The company's revenue for the quarter was up 984.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.80) earnings per share. As a group, research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Insider Activity at Syndax Pharmaceuticals

In other news, Director Dennis Podlesak sold 19,200 shares of the firm's 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 completion of the sale, the director owned 191,763 shares of the company's stock, valued at approximately $3,037,525.92. This trade represents a 9.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael A. Metzger sold 7,534 shares of the firm's stock in a transaction that occurred on 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 directly owned 298,661 shares of the company's stock, valued at approximately $2,774,560.69. The trade was a 2.46% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,230 shares of company stock valued at $684,527. Company 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).