Candriam S.C.A. Has $5.53 Million Stock Position in Syndax Pharmaceuticals, Inc. $SNDX

Key Points

• Candriam S.C.A. reduced its stake in Syndax Pharmaceuticals by 17.7%, now holding approximately $5.53 million worth of shares after selling 96,730 shares during the first quarter.
• Analysts have increased their price targets on Syndax Pharmaceuticals, with BTIG Research raising their target to $56.00 and maintaining a "buy" rating.
• Insider trades indicate selling activity, with Director Dennis Podlesak and CEO Michael A. Metzger reducing their share holdings recently, while corporate insiders collectively own 4.10% of the company.

Candriam S.C.A. lowered its holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 17.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 450,435 shares of the company's stock after selling 96,730 shares during the quarter. Candriam S.C.A. owned 0.52% of Syndax Pharmaceuticals worth $5,534,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SNDX. Virtus ETF Advisers LLC grew its holdings in shares of Syndax Pharmaceuticals by 18.6% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock worth $70,000 after purchasing an additional 827 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Syndax Pharmaceuticals during the 4th quarter worth approximately $153,000. Guggenheim Capital LLC acquired a new stake in shares of Syndax Pharmaceuticals during the 4th quarter worth approximately $157,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Syndax Pharmaceuticals during the 1st quarter worth approximately $162,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Syndax Pharmaceuticals during the 1st quarter worth approximately $179,000.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SNDX. BTIG Research lifted their price objective on Syndax Pharmaceuticals from $43.00 to $56.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. The Goldman Sachs Group began coverage on Syndax Pharmaceuticals in a report on Thursday, July 10th. They set a "buy" rating and a $18.00 price objective on the stock. B. Riley raised Syndax Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, August 6th. Scotiabank raised their target price on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a "sector perform" rating in a research report on Tuesday, May 6th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $32.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $38.00.

Insider Buying and Selling at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, Director Dennis Podlesak sold 19,200 shares of Syndax Pharmaceuticals stock in a transaction on Monday, August 18th. The stock was sold at an average price of $15.84, for a total value of $304,128.00. Following the completion of the transaction, the director owned 191,763 shares in the company, valued at approximately $3,037,525.92. The trade was a 9.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael A. Metzger sold 7,534 shares of Syndax Pharmaceuticals stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $9.29, for a total value of $69,990.86. Following the completion of the transaction, the chief executive officer owned 298,661 shares of the company's stock, valued at approximately $2,774,560.69. The trade was a 2.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,230 shares of company stock valued at $684,527. Corporate insiders own 4.10% of the company's stock.

Syndax Pharmaceuticals Trading Up 0.6%

Shares of SNDX opened at $15.84 on Friday. The stock has a fifty day moving average price of $10.73 and a two-hundred day moving average price of $11.93. The company has a debt-to-equity ratio of 2.06, a quick ratio of 4.55 and a current ratio of 4.71. Syndax Pharmaceuticals, Inc. has a 52-week low of $8.58 and a 52-week high of $22.50. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -4.07 and a beta of 0.74.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.01) by $0.18. Syndax Pharmaceuticals had a negative return on equity of 130.47% and a negative net margin of 428.48%.The firm had revenue of $37.96 million during the quarter, compared to the consensus estimate of $26.64 million. During the same quarter in the previous year, the company posted ($0.80) EPS. The business's revenue for the quarter was up 984.5% compared to the same quarter last year. Analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Syndax Pharmaceuticals Company Profile

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.