Cubist Systematic Strategies LLC Purchases Shares of 358,071 Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Cubist Systematic Strategies LLC acquired a new position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 358,071 shares of the company’s stock, valued at approximately $4,734,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd acquired a new stake in Syndax Pharmaceuticals during the 4th quarter worth approximately $26,000. Virtus ETF Advisers LLC lifted its holdings in shares of Syndax Pharmaceuticals by 18.6% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company’s stock worth $70,000 after buying an additional 827 shares in the last quarter. Cape Investment Advisory Inc. boosted its position in shares of Syndax Pharmaceuticals by 157.1% in the fourth quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company’s stock valued at $85,000 after acquiring an additional 3,927 shares during the period. KBC Group NV grew its stake in shares of Syndax Pharmaceuticals by 104.8% in the fourth quarter. KBC Group NV now owns 6,954 shares of the company’s stock valued at $92,000 after acquiring an additional 3,559 shares in the last quarter. Finally, Optimize Financial Inc acquired a new position in shares of Syndax Pharmaceuticals in the fourth quarter valued at about $152,000.

Insiders Place Their Bets

In related news, insider Neil Gallagher sold 4,618 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction of $71,579.00. Following the completion of the transaction, the insider now directly owns 85,095 shares of the company’s stock, valued at $1,318,972.50. This trade represents a 5.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael A. Metzger sold 13,288 shares of the company’s stock in a transaction dated 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 trade represents a 4.24 % decrease in their position. 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. Corporate insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on SNDX. JPMorgan Chase & Co. boosted their price objective on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a report 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. StockNews.com raised Syndax Pharmaceuticals to a “sell” rating in a report on Tuesday. Citigroup reduced their target price on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $32.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.91.

Syndax Pharmaceuticals Trading Down 2.8 %

SNDX opened at $10.70 on Friday. The company has a market cap of $920.67 million, a P/E ratio of -2.95 and a beta of 0.82. The company’s 50 day moving average is $12.48 and its 200-day moving average is $14.42. Syndax Pharmaceuticals, Inc. has a 1-year low of $9.66 and a 1-year high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Monday, May 5th. The company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.06. The company had revenue of $20.04 million for the quarter, compared to the consensus estimate of $15.88 million. During the same period in the previous year, the firm posted ($0.85) EPS. The business’s quarterly revenue was up 1900.0% compared to the same quarter last year. On average, equities analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

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).