Trexquant Investment LP Purchases 437,859 Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Trexquant Investment LP lifted its holdings in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 1,309.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 471,292 shares of the company’s stock after acquiring an additional 437,859 shares during the quarter. Trexquant Investment LP’s holdings in Syndax Pharmaceuticals were worth $6,230,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp lifted its stake in shares of Syndax Pharmaceuticals by 4.1% in the 3rd quarter. State Street Corp now owns 3,770,826 shares of the company’s stock valued at $72,588,000 after purchasing an additional 148,491 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of 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 worth $27,292,000 after acquiring an additional 1,598,428 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Syndax Pharmaceuticals by 3.5% during the third quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company’s stock valued at $38,066,000 after acquiring an additional 66,459 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Syndax Pharmaceuticals by 13.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock worth $34,948,000 after purchasing an additional 208,043 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Syndax Pharmaceuticals by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 704,823 shares of the company’s stock worth $9,318,000 after purchasing an additional 8,876 shares in the last quarter.

Analysts Set New Price Targets

SNDX has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. HC Wainwright reissued a “buy” rating and set a $51.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. Citigroup lowered their price objective on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Scotiabank reduced 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. Finally, StockNews.com upgraded Syndax Pharmaceuticals to a “sell” rating in a research note on Wednesday. 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 company. Based on data from MarketBeat.com, Syndax Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $36.20.

Insider Activity

In other Syndax Pharmaceuticals news, insider Neil Gallagher sold 4,618 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $71,579.00. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith A. Goldan sold 3,777 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction of $58,543.50. Following the completion of the transaction, the chief financial officer now owns 90,746 shares of the company’s stock, valued at approximately $1,406,563. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,683 shares of company stock valued at $336,087 in the last 90 days. Company insiders own 4.10% of the company’s stock.

Syndax Pharmaceuticals Stock Performance

Shares of NASDAQ:SNDX opened at $11.25 on Friday. The stock’s 50-day simple moving average is $14.13 and its two-hundred day simple moving average is $15.68. The stock has a market capitalization of $967.77 million, a price-to-earnings ratio of -3.10 and a beta of 0.92. Syndax Pharmaceuticals, Inc. has a 52-week low of $11.09 and a 52-week high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.79). The company had revenue of $7.68 million for the quarter, compared to the consensus estimate of $86.32 million. As a group, equities analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

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).