Bank of New York Mellon Corp bought a new position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,040,079 shares of the company's stock, valued at approximately $22,736,000. Bank of New York Mellon Corp owned approximately 1.17% of Syndax Pharmaceuticals at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of SNDX. Larson Financial Group LLC lifted its holdings 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 in the last quarter. Quantbot Technologies LP acquired a new position in Syndax Pharmaceuticals in the third quarter valued at approximately $53,000. Smartleaf Asset Management LLC boosted its stake in Syndax Pharmaceuticals by 2,698.9% in 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 during the last quarter. Lazard Asset Management LLC acquired a new stake in Syndax Pharmaceuticals during the 2nd quarter worth $66,000. Finally, Tower Research Capital LLC TRC grew its holdings in Syndax Pharmaceuticals by 103.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company's stock worth $79,000 after acquiring an additional 4,308 shares during the period.
Insider Activity at Syndax Pharmaceuticals
In related news, CEO Michael A. Metzger sold 32,375 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $24.24, for a total value of $784,770.00. Following the completion of the sale, the chief executive officer directly owned 484,843 shares in the company, valued at $11,752,594.32. This represents a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $566,602.90. Following the transaction, the chief marketing officer directly owned 60,885 shares of the company's stock, valued at approximately $1,104,453.90. This represents a 33.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 97,890 shares of company stock worth $1,968,413. 4.80% of the stock is owned by corporate insiders.
Syndax Pharmaceuticals Price Performance
Shares of NASDAQ:SNDX opened at $19.54 on Monday. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -7.78 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. The firm has a 50 day simple moving average of $20.93 and a 200 day simple moving average of $21.28. Syndax Pharmaceuticals, Inc. has a one year low of $12.99 and a one year high of $25.59.
Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.10). The company had revenue of $72.79 million for the quarter, compared to the consensus estimate of $79.36 million. Syndax Pharmaceuticals had a negative return on equity of 372.94% and a negative net margin of 87.52%.The business's quarterly revenue was up 91.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.83) EPS. Research analysts predict that Syndax Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. cut 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. Bank of America reaffirmed a "buy" rating on shares of Syndax Pharmaceuticals in a research report on Wednesday, August 5th. Weiss Ratings raised Syndax Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, August 21st. HC Wainwright decreased their price target on shares of Syndax Pharmaceuticals from $40.00 to $38.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. Finally, UBS Group lowered their price objective on Syndax Pharmaceuticals from $37.00 to $33.00 and set a "buy" rating on the stock in a research report on Friday, August 21st. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $41.55.
Check Out Our Latest Report on Syndax Pharmaceuticals
Syndax Pharmaceuticals Company Profile
(
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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