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

Trexquant Investment LP increased its holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 1,309.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 471,292 shares of the company's stock after purchasing an additional 437,859 shares during the period. Trexquant Investment LP owned approximately 0.55% of Syndax Pharmaceuticals worth $6,230,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp raised its holdings 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 worth $72,588,000 after buying an additional 148,491 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Syndax Pharmaceuticals by 343.0% during 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 in the last quarter. Geode Capital Management LLC lifted 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 during the period. Franklin Resources Inc. boosted its stake 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 valued at $34,948,000 after purchasing an additional 208,043 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of 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 during the last quarter.

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Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX traded down $1.35 on Thursday, hitting $10.18. 2,441,579 shares of the stock were exchanged, compared to its average volume of 1,554,816. The stock has a market capitalization of $875.50 million, a price-to-earnings ratio of -2.80 and a beta of 1.28. Syndax Pharmaceuticals, Inc. has a 52 week low of $9.66 and a 52 week high of $25.07. The company's 50-day moving average price is $13.81 and its 200 day moving average price is $15.43.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last announced 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 company had revenue of $7.68 million for the quarter, compared to analyst estimates of $86.32 million. As a group, equities research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Wall Street Analyst Weigh In

SNDX has been the subject of several analyst reports. Citigroup cut their price target on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating for the company in a 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 on the stock in a report on Wednesday, January 8th. StockNews.com raised Syndax Pharmaceuticals to a "sell" rating in a report on Thursday. HC Wainwright reiterated a "buy" rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. increased their target price on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $36.20.

Insider Transactions at Syndax Pharmaceuticals

In related news, CEO Michael A. Metzger sold 13,288 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $205,964.00. Following the completion of the sale, the chief executive officer now owns 300,121 shares in the company, valued at $4,651,875.50. This represents a 4.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith A. Goldan sold 3,777 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 value of $58,543.50. Following the transaction, the chief financial officer now owns 90,746 shares in the company, valued at approximately $1,406,563. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,683 shares of company stock worth $336,087 in the last three months. Insiders own 4.10% of the company's stock.

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).