Adage Capital Partners GP L.L.C. Sells 195,760 Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Adage Capital Partners GP L.L.C. trimmed its position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 23.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 621,840 shares of the company's stock after selling 195,760 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.73% of Syndax Pharmaceuticals worth $8,221,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its stake in Syndax Pharmaceuticals by 343.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,064,456 shares of the company's stock valued at $27,292,000 after acquiring an additional 1,598,428 shares during the period. Renaissance Technologies LLC bought a new position in shares of Syndax Pharmaceuticals during the 4th quarter valued at about $9,002,000. Trexquant Investment LP grew its position in shares of Syndax Pharmaceuticals by 1,309.7% in the 4th quarter. Trexquant Investment LP now owns 471,292 shares of the company's stock valued at $6,230,000 after purchasing an additional 437,859 shares during the period. Altium Capital Management LLC bought a new stake in Syndax Pharmaceuticals during the 4th quarter worth approximately $4,891,000. Finally, Walleye Capital LLC raised its holdings in Syndax Pharmaceuticals by 831.3% during the 4th quarter. Walleye Capital LLC now owns 364,750 shares of the company's stock worth $4,822,000 after buying an additional 325,585 shares during the period.

Syndax Pharmaceuticals Stock Down 0.7 %

Shares of NASDAQ SNDX traded down $0.09 during trading hours on Friday, hitting $13.73. The company had a trading volume of 2,274,577 shares, compared to its average volume of 1,610,207. The stock has a market capitalization of $1.18 billion, a P/E ratio of -3.78 and a beta of 0.82. Syndax Pharmaceuticals, Inc. has a 1-year low of $9.66 and a 1-year high of $25.07. The firm's 50 day moving average is $12.89 and its 200-day moving average is $14.71.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The company reported ($1.10) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.79). The firm had revenue of $7.68 million for the quarter, compared to the consensus estimate of $86.32 million. On average, sell-side analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Insider Buying and Selling at Syndax Pharmaceuticals

In other news, insider Neil Gallagher sold 4,618 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $71,579.00. Following the completion of the sale, the insider now owns 85,095 shares in the company, valued at approximately $1,318,972.50. This trade represents a 5.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael A. Metzger sold 13,288 shares of Syndax Pharmaceuticals stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction of $205,964.00. Following the sale, the chief executive officer now directly owns 300,121 shares of the company's stock, valued at $4,651,875.50. The trade was a 4.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,683 shares of company stock worth $336,087 over the last 90 days. Company insiders own 4.10% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SNDX. StockNews.com raised shares of Syndax Pharmaceuticals to a "sell" rating in a research report on Thursday, April 10th. Scotiabank lowered their target price on Syndax Pharmaceuticals from $18.00 to $16.00 and set a "sector perform" rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price target on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Citigroup decreased their price objective on Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. Finally, HC Wainwright restated a "buy" rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $36.20.

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).