Walleye Capital LLC Has $4.02 Million Position 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 cut its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 10.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 327,134 shares of the company's stock after selling 37,616 shares during the period. Walleye Capital LLC owned about 0.38% of Syndax Pharmaceuticals worth $4,019,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Virtus ETF Advisers LLC lifted its holdings 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 worth $70,000 after purchasing an additional 827 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Syndax Pharmaceuticals during the fourth quarter worth $153,000. Guggenheim Capital LLC acquired a new position in shares of Syndax Pharmaceuticals during the fourth quarter worth $157,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Syndax Pharmaceuticals during the first quarter worth $162,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Syndax Pharmaceuticals during the first quarter worth $179,000.

Insiders Place Their Bets

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 7,534 shares of the firm's 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 completion of 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 can be accessed through this hyperlink. Also, Director Dennis Podlesak sold 19,200 shares of the firm's stock in a transaction on Monday, August 18th. The stock was 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 $3,037,525.92. The trade was a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,230 shares of company stock valued at $684,527 over the last 90 days. Corporate insiders own 4.10% of the company's stock.

Syndax Pharmaceuticals Stock Up 0.1%

NASDAQ:SNDX traded up $0.01 during trading hours on Monday, reaching $16.33. The company had a trading volume of 1,608,802 shares, compared to its average volume of 3,030,180. 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 firm has a market cap of $1.41 billion, a price-to-earnings ratio of -4.20 and a beta of 0.72. The business's 50-day simple moving average is $11.63 and its two-hundred day simple moving average is $11.95. Syndax Pharmaceuticals, Inc. has a twelve month low of $8.58 and a twelve month high of $22.50.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted 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 business 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 business's quarterly revenue was up 984.5% on a year-over-year basis. During the same period last year, the company posted ($0.80) earnings per share. On average, equities analysts expect that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SNDX. UBS Group cut their price target on shares of Syndax Pharmaceuticals from $37.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. Scotiabank lifted their price target on shares of Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 6th. BTIG Research lifted their price target on shares of Syndax Pharmaceuticals from $43.00 to $56.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Citigroup lifted their price target on shares of Syndax Pharmaceuticals from $46.00 to $51.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Guggenheim reiterated a "buy" rating and set a $32.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $38.00.

Syndax Pharmaceuticals Company 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).