Eventide Asset Management LLC grew its holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 25.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,238,196 shares of the company's stock after buying an additional 249,710 shares during the quarter. Eventide Asset Management LLC owned 1.42% of Syndax Pharmaceuticals worth $26,014,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in SNDX. Vanguard Group Inc. raised its stake in shares of Syndax Pharmaceuticals by 21.2% in the 4th quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company's stock valued at $130,899,000 after buying an additional 1,091,717 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Syndax Pharmaceuticals by 33.7% in the 2nd quarter. Bank of America Corp DE now owns 3,838,872 shares of the company's stock valued at $35,951,000 after buying an additional 967,873 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in shares of Syndax Pharmaceuticals by 99.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,665,916 shares of the company's stock valued at $15,601,000 after buying an additional 831,067 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Syndax Pharmaceuticals by 126.8% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,432,440 shares of the company's stock valued at $13,415,000 after buying an additional 800,800 shares in the last quarter. Finally, Ensign Peak Advisors Inc raised its stake in shares of Syndax Pharmaceuticals by 97.6% in the 4th quarter. Ensign Peak Advisors Inc now owns 1,598,544 shares of the company's stock valued at $33,585,000 after buying an additional 789,480 shares in the last quarter.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on SNDX. Citigroup increased their price objective on shares of Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of Syndax Pharmaceuticals in a research note on Friday, March 27th. JPMorgan Chase & Co. increased their price objective on shares of Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an "overweight" rating in a research note on Monday, March 9th. Stifel Nicolaus set a $45.00 price objective on shares of Syndax Pharmaceuticals in a research note on Friday, February 27th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $40.00 target price (down from $48.00) on shares of Syndax Pharmaceuticals in a research report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.55.
Get Our Latest Stock Analysis on SNDX
Syndax Pharmaceuticals Stock Up 1.9%
Shares of NASDAQ SNDX opened at $18.25 on Friday. The firm has a market capitalization of $1.62 billion, a PE ratio of -6.54 and a beta of 0.38. The company has a current ratio of 5.47, a quick ratio of 5.06 and a debt-to-equity ratio of 8.26. Syndax Pharmaceuticals, Inc. has a 1 year low of $8.59 and a 1 year high of $25.59. The firm's 50-day moving average is $21.06 and its 200-day moving average is $21.22.
Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.11. The company had revenue of $64.86 million for the quarter, compared to analyst estimates of $69.76 million. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. The company's revenue for the quarter was up 224.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.98) EPS. Equities analysts expect that Syndax Pharmaceuticals, Inc. will post -1.66 EPS for the current year.
Insider Activity
In other news, CEO Michael A. Metzger sold 6,847 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $18.99, for a total value of $130,024.53. Following the transaction, the chief executive officer owned 484,843 shares of the company's stock, valued at approximately $9,207,168.57. This trade represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CMO Nicholas A.J. Botwood sold 34,280 shares of the firm's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $18.00, for a total transaction of $617,040.00. Following the completion of the transaction, the chief marketing officer directly owned 60,885 shares in the company, valued at $1,095,930. This trade represents a 36.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 73,539 shares of company stock worth $1,336,019 in the last ninety days. Insiders own 4.10% of the company's stock.
Syndax Pharmaceuticals Company 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.
See Also
Want to see what other hedge funds are holding SNDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report).
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