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

Squarepoint Ops LLC raised its position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 104.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 370,317 shares of the company’s stock after acquiring an additional 188,765 shares during the period. Squarepoint Ops LLC owned approximately 0.42% of Syndax Pharmaceuticals worth $8,095,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in SNDX. Allworth Financial LP purchased a new stake in shares of Syndax Pharmaceuticals during the 2nd quarter valued at $26,000. Larson Financial Group LLC grew its stake in Syndax Pharmaceuticals by 192.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock worth $45,000 after buying an additional 1,922 shares during the last quarter. Quantbot Technologies LP purchased a new position in Syndax Pharmaceuticals during the 3rd quarter worth $53,000. Smartleaf Asset Management LLC grew its stake in Syndax Pharmaceuticals by 2,698.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock worth $55,000 after buying an additional 2,564 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Syndax Pharmaceuticals during the 2nd quarter valued at about $66,000.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Syndax Pharmaceuticals news, CEO Michael Metzger sold 32,375 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $11,752,594.32. This trade represents a 6.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 4.80% of the company’s stock.

Syndax Pharmaceuticals Stock Down 5.1%

Shares of SNDX stock opened at $18.82 on Friday. The stock’s 50-day simple moving average is $20.81 and its 200-day simple moving average is $21.24. The company has a debt-to-equity ratio of 38.95, a quick ratio of 6.44 and a current ratio of 6.77. The firm 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 fifty-two week low of $12.99 and a fifty-two week high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Tuesday, August 4th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.10). Syndax Pharmaceuticals had a negative return on equity of 372.94% and a negative net margin of 87.52%.The firm had revenue of $72.79 million for the quarter, compared to analyst estimates of $79.36 million. During the same period last year, the firm earned ($0.83) EPS. The company’s revenue for the quarter was up 91.8% compared to the same quarter last year. Equities analysts expect that Syndax Pharmaceuticals, Inc. will post -2.01 earnings per share for the current year.

Syndax Pharmaceuticals 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.