XTX Topco Ltd Invests $783,000 in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Key Points

• XTX Topco Ltd has invested $783,000 in Syndax Pharmaceuticals, acquiring 63,726 shares, representing about 0.07% of the company.
• Syndax Pharmaceuticals reported earnings of ($0.98) EPS, beating analysts' expectations and achieving a revenue growth of 1900.0% compared to the same quarter last year.
• Analyst ratings for Syndax show a consensus of "Moderate Buy" with a target price of $34.10, indicating positive sentiment from market experts.

XTX Topco Ltd purchased a new position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 63,726 shares of the company's stock, valued at approximately $783,000. XTX Topco Ltd owned approximately 0.07% of Syndax Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SNDX. Virtus ETF Advisers LLC increased its holdings in Syndax Pharmaceuticals by 18.6% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock valued at $70,000 after acquiring an additional 827 shares during the last quarter. Optimize Financial Inc purchased a new stake in shares of Syndax Pharmaceuticals in the 4th quarter worth approximately $152,000. Lazard Asset Management LLC purchased a new stake in Syndax Pharmaceuticals during the fourth quarter valued at approximately $153,000. Guggenheim Capital LLC purchased a new position in Syndax Pharmaceuticals in the fourth quarter worth $157,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Syndax Pharmaceuticals during the 1st quarter valued at approximately $162,000.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX traded down $0.09 during mid-day trading on Thursday, hitting $12.80. 1,243,939 shares of the company's stock were exchanged, compared to its average volume of 2,219,700. The company has a current ratio of 4.71, a quick ratio of 5.75 and a debt-to-equity ratio of 2.06. The firm has a market capitalization of $1.10 billion, a P/E ratio of -3.30 and a beta of 0.74. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $8.58 and a fifty-two week high of $22.50. The business's 50 day moving average is $10.00 and its two-hundred day moving average is $11.92.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported ($0.83) earnings per share 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 company's revenue was up 984.5% on a year-over-year basis. During the same period last year, the company posted ($0.80) EPS. On average, equities analysts expect that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Analysts Set New Price Targets

SNDX has been the topic of several analyst reports. Wall Street Zen upgraded shares of Syndax Pharmaceuticals to a "sell" rating in a research report on Tuesday, May 6th. Citigroup raised their target price on shares of Syndax Pharmaceuticals from $46.00 to $51.00 and gave the stock a "buy" rating in a research note on Tuesday. BTIG Research raised 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. The Goldman Sachs Group assumed coverage on Syndax Pharmaceuticals in a research report on Thursday, July 10th. They issued a "buy" rating and a $18.00 target price on the stock. Finally, Guggenheim restated a "buy" rating and issued a $32.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $36.91.

Insider Activity

In related news, CEO Michael A. Metzger sold 7,534 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $9.29, for a total transaction of $69,990.86. Following the completion of the sale, the chief executive officer directly owned 298,661 shares of the company's stock, valued at approximately $2,774,560.69. This represents a 2.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.10% of the stock is owned by corporate insiders.

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).