Algert Global LLC grew its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 13.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,051,465 shares of the company's stock after acquiring an additional 122,897 shares during the period. Algert Global LLC owned 1.19% of Syndax Pharmaceuticals worth $22,985,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Hsbc Holdings PLC increased its holdings in shares of Syndax Pharmaceuticals by 3.2% in the first quarter. Hsbc Holdings PLC now owns 23,461 shares of the company's stock valued at $556,000 after purchasing an additional 730 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Syndax Pharmaceuticals by 26.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company's stock worth $89,000 after acquiring an additional 893 shares during the last quarter. Allworth Financial LP acquired a new position in shares of Syndax Pharmaceuticals during the second quarter valued at $26,000. Schroder Investment Management Group boosted its holdings in Syndax Pharmaceuticals by 1.0% in the third quarter. Schroder Investment Management Group now owns 123,404 shares of the company's stock valued at $1,920,000 after acquiring an additional 1,241 shares during the last quarter. Finally, Verition Fund Management LLC increased its position in Syndax Pharmaceuticals by 7.5% in the fourth quarter. Verition Fund Management LLC now owns 18,460 shares of the company's stock worth $388,000 after purchasing an additional 1,281 shares during the period.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Bank of America restated a "buy" rating on shares of Syndax Pharmaceuticals in a research report on Wednesday, August 5th. HC Wainwright dropped their price target on shares of Syndax Pharmaceuticals from $40.00 to $38.00 and set a "buy" rating for the company in a research note on Wednesday, August 5th. JPMorgan Chase & Co. reduced their price objective on shares of Syndax Pharmaceuticals from $44.00 to $40.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 11th. Weiss Ratings raised shares of Syndax Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday. Finally, UBS Group dropped their target price 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. Twelve analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $41.55.
Read Our Latest Stock Analysis on SNDX
Insider Transactions at Syndax Pharmaceuticals
In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 32,375 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $24.24, for a total value of $784,770.00. Following the transaction, the chief executive officer owned 484,843 shares of the company's stock, valued at approximately $11,752,594.32. The trade was a 6.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Nicholas A.J. Botwood sold 31,235 shares of the firm's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $18.14, for a total transaction of $566,602.90. Following the sale, the chief marketing officer owned 60,885 shares in the company, valued at approximately $1,104,453.90. The trade was a 33.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 105,914 shares of company stock worth $2,120,789. 4.80% of the stock is currently owned by insiders.
Syndax Pharmaceuticals Stock Performance
Shares of NASDAQ:SNDX opened at $19.57 on Tuesday. The firm's 50 day simple moving average is $20.85 and its 200 day simple moving average is $21.30. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $12.99 and a fifty-two week high of $25.59. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -7.80 and a beta of 0.40. 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 - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $72.79 million during the quarter, compared to analyst estimates of $79.36 million. During the same period last year, the firm earned ($0.83) EPS. Syndax Pharmaceuticals's quarterly revenue was up 91.8% on a year-over-year basis. As a group, sell-side analysts forecast that Syndax Pharmaceuticals, Inc. will post -2.01 earnings per share for the current year.
Syndax Pharmaceuticals Profile
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Free Report)
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.
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