AlphaQuest LLC Sells 18,370 Shares of Syndax Pharmaceuticals, Inc. $SNDX

AlphaQuest LLC trimmed its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 46.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 20,947 shares of the company’s stock after selling 18,370 shares during the quarter. AlphaQuest LLC’s holdings in Syndax Pharmaceuticals were worth $196,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Phoenix Financial Ltd. bought a new stake in shares of Syndax Pharmaceuticals during the 2nd quarter valued at $701,000. Exome Asset Management LLC lifted its position in shares of Syndax Pharmaceuticals by 5.7% during the 1st quarter. Exome Asset Management LLC now owns 337,198 shares of the company’s stock valued at $4,142,000 after acquiring an additional 18,298 shares during the period. Deutsche Bank AG lifted its position in shares of Syndax Pharmaceuticals by 127.7% during the 1st quarter. Deutsche Bank AG now owns 204,732 shares of the company’s stock valued at $2,516,000 after acquiring an additional 114,828 shares during the period. Aberdeen Group plc lifted its position in shares of Syndax Pharmaceuticals by 129.1% during the 2nd quarter. Aberdeen Group plc now owns 303,426 shares of the company’s stock valued at $2,842,000 after acquiring an additional 170,993 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Syndax Pharmaceuticals during the 1st quarter valued at $783,000.

Insider Activity at Syndax Pharmaceuticals

In other news, Director Dennis Podlesak sold 19,200 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $15.84, for a total value of $304,128.00. Following the completion of the transaction, the director owned 191,763 shares of the company’s stock, valued at $3,037,525.92. This represents a 9.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael A. Metzger sold 157,307 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $16.41, for a total value of $2,581,407.87. Following the completion of the transaction, the chief executive officer directly owned 298,661 shares of the company’s stock, valued at $4,901,027.01. This represents a 34.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 195,707 shares of company stock valued at $3,183,904 in the last ninety days. 4.10% of the stock is currently owned by insiders.

Syndax Pharmaceuticals Stock Performance

Syndax Pharmaceuticals stock opened at $13.70 on Monday. The business has a 50 day moving average of $15.37 and a 200-day moving average of $12.56. Syndax Pharmaceuticals, Inc. has a 1 year low of $8.58 and a 1 year high of $22.50. The company has a debt-to-equity ratio of 2.06, a current ratio of 4.71 and a quick ratio of 4.55. The company has a market capitalization of $1.18 billion, a P/E ratio of -3.52 and a beta of 0.68.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Monday, August 4th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.01) by $0.18. Syndax Pharmaceuticals had a negative return on equity of 130.47% and a negative net margin of 428.48%.The company had revenue of $37.96 million during the quarter, compared to the consensus estimate of $26.64 million. During the same quarter in the prior year, the firm posted ($0.80) earnings per share. The firm’s revenue was up 984.5% compared to the same quarter last year. On average, equities research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Stifel Nicolaus assumed coverage on Syndax Pharmaceuticals in a research report on Wednesday, September 10th. They set a “buy” rating and a $44.00 price objective for the company. Guggenheim assumed coverage on Syndax Pharmaceuticals in a research report on Thursday, September 4th. They set a “buy” rating and a $34.00 price objective for the company. The Goldman Sachs Group upped their price objective on Syndax Pharmaceuticals from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. BTIG Research reissued a “buy” rating and issued a $56.00 price objective on shares of Syndax Pharmaceuticals in a research note on Monday, October 27th. Finally, HC Wainwright reissued a “buy” rating and issued a $40.00 price objective on shares of Syndax Pharmaceuticals in a research note on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Syndax Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

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).