Squarepoint Ops LLC Boosts Holdings in Syndax Pharmaceuticals, Inc. $SNDX

Squarepoint Ops LLC boosted its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 104.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 370,317 shares of the company’s stock after purchasing an additional 188,765 shares during the period. Squarepoint Ops LLC’s holdings in Syndax Pharmaceuticals were worth $8,095,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP acquired a new position in shares of Syndax Pharmaceuticals in the 2nd quarter valued at about $26,000. Larson Financial Group LLC grew its holdings in 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 acquiring an additional 1,922 shares during the period. Quantbot Technologies LP purchased a new position in Syndax Pharmaceuticals during the third quarter valued at approximately $53,000. Smartleaf Asset Management LLC raised its position in Syndax Pharmaceuticals by 2,698.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock valued at $55,000 after acquiring an additional 2,564 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Syndax Pharmaceuticals in the second quarter valued at approximately $66,000.

Wall Street Analysts Forecast Growth

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

Syndax Pharmaceuticals Stock Down 5.1%

Syndax Pharmaceuticals stock opened at $18.82 on Friday. The stock has a market capitalization of $1.67 billion, a PE ratio of -7.50 and a beta of 0.37. Syndax Pharmaceuticals, Inc. has a 12 month low of $12.99 and a 12 month high of $25.59. The business has a 50 day simple moving average of $20.81 and a 200-day simple moving average of $21.24. The company has a debt-to-equity ratio of 38.95, a current ratio of 6.77 and a quick ratio of 6.44.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Tuesday, August 4th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $72.79 million for the quarter, compared to analysts’ expectations of $79.36 million. During the same quarter last year, the business earned ($0.83) EPS. The company’s quarterly revenue was up 91.8% on a year-over-year basis. On average, analysts anticipate that Syndax Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

Insiders Place Their Bets

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

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.