WINTON GROUP Ltd Has $1.67 Million Position in Syndax Pharmaceuticals, Inc. $SNDX

Key Points

• WINTON GROUP Ltd increased its Syndax Pharmaceuticals stake by 642.7% in the second quarter, holding 76,500 shares worth approximately $1.67 million. Several other institutional investors also initiated or expanded positions.
• Analysts remain broadly optimistic, with 10 Buy ratings and one Sell rating and an average price target of $42.30, despite several firms recently lowering their targets. The stock opened at $18.18, well below the consensus target.
• Syndax reported a quarterly loss of $0.55 per share versus the expected $0.45 loss, while revenue reached $72.79 million, up 91.8% year over year but below estimates. CEO Michael Metzger also sold 32,375 shares for approximately $785,000.

WINTON GROUP Ltd boosted its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 642.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 76,500 shares of the company's stock after purchasing an additional 66,200 shares during the quarter. WINTON GROUP Ltd owned about 0.09% of Syndax Pharmaceuticals worth $1,672,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP acquired a new stake in Syndax Pharmaceuticals in the second quarter valued at approximately $26,000. Larson Financial Group LLC raised its position in shares of Syndax Pharmaceuticals by 192.2% during the third quarter. Larson Financial Group LLC now owns 2,922 shares of the company's stock worth $45,000 after purchasing an additional 1,922 shares during the period. Quantbot Technologies LP bought a new position in shares of Syndax Pharmaceuticals in the 3rd quarter worth $53,000. Smartleaf Asset Management LLC lifted its holdings in shares of Syndax Pharmaceuticals by 2,698.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company's stock worth $55,000 after purchasing an additional 2,564 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Syndax Pharmaceuticals in the 2nd quarter worth $66,000.

Insiders Place Their Bets

In other Syndax Pharmaceuticals news, CEO Michael Metzger sold 32,375 shares of the company's stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $24.24, for a total value of $784,770.00. Following the completion of the sale, the chief executive officer directly owned 484,843 shares of the company's stock, valued at approximately $11,752,594.32. This represents a 6.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SNDX. UBS Group reduced their price objective on shares of Syndax Pharmaceuticals from $37.00 to $33.00 and set a "buy" rating for the company in a report on Friday, August 21st. Bank of America reaffirmed a "buy" rating on shares of Syndax Pharmaceuticals in a research report on Wednesday, August 5th. HC Wainwright cut their price target on Syndax Pharmaceuticals from $40.00 to $38.00 and set a "buy" rating for the company in a research note on Wednesday, August 5th. Weiss Ratings raised Syndax Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, August 21st. Finally, JPMorgan Chase & Co. decreased their price objective on Syndax Pharmaceuticals from $44.00 to $40.00 and set an "overweight" rating for the company in a report on Tuesday, August 11th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Syndax Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $42.30.

Syndax Pharmaceuticals Price Performance

SNDX opened at $18.18 on Friday. Syndax Pharmaceuticals, Inc. has a 1 year low of $12.99 and a 1 year high of $25.59. The company has a debt-to-equity ratio of 38.95, a current ratio of 6.77 and a quick ratio of 6.44. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -7.24 and a beta of 0.37. The firm's fifty day moving average price is $20.74 and its two-hundred day moving average price is $21.22.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.10). Syndax Pharmaceuticals had a negative net margin of 87.52% and a negative return on equity of 372.94%. The firm had revenue of $72.79 million during the quarter, compared to analysts' expectations of $79.36 million. During the same quarter in the prior year, the company earned ($0.83) EPS. The business's revenue for the quarter was up 91.8% on a year-over-year basis. As a group, analysts anticipate that Syndax Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering therapies for cancer and other serious diseases. The company's research has centered on medicines that target disease-driving biological pathways, including genetically defined forms of leukemia and immune-related conditions.

Syndax's lead product is Revuforj (revumenib), an oral menin inhibitor approved by the U.S. Food and Drug Administration for certain adults and children with relapsed or refractory acute leukemia involving a KMT2A translocation.

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