Legal & General Group Plc purchased a new stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 65,483 shares of the company's stock, valued at approximately $1,431,000. Legal & General Group Plc owned about 0.07% of Syndax Pharmaceuticals as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Orbimed Advisors LLC bought a new position in shares of Syndax Pharmaceuticals in the first quarter worth about $22,479,000. Eventide Asset Management LLC increased its holdings in shares of Syndax Pharmaceuticals by 25.3% in the fourth quarter. Eventide Asset Management LLC now owns 1,238,196 shares of the company's stock valued at $26,014,000 after purchasing an additional 249,710 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Syndax Pharmaceuticals by 59.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 342,883 shares of the company's stock worth $7,495,000 after purchasing an additional 128,076 shares during the last quarter. Apis Capital Advisors LLC raised its position in Syndax Pharmaceuticals by 13.5% in the 4th quarter. Apis Capital Advisors LLC now owns 724,000 shares of the company's stock worth $15,211,000 after purchasing an additional 86,000 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Syndax Pharmaceuticals during the 2nd quarter worth $1,372,000.
Syndax Pharmaceuticals Stock Performance
SNDX opened at $20.56 on Monday. The firm's fifty day moving average is $20.96 and its two-hundred day moving average is $21.25. The firm has a market cap of $1.82 billion, a PE ratio of -8.19 and a beta of 0.37. Syndax Pharmaceuticals, Inc. has a twelve month low of $12.99 and a twelve month high of $25.59. The company has a debt-to-equity ratio of 38.95, a quick ratio of 6.44 and a current ratio of 6.77.
Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.55) EPS for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.10). The firm had revenue of $72.79 million during the quarter, compared to the consensus estimate of $79.36 million. Syndax Pharmaceuticals had a negative net margin of 87.52% and a negative return on equity of 372.94%. Syndax Pharmaceuticals's quarterly revenue was up 91.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.83) EPS. Equities research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -2.01 EPS for the current year.
Insider Transactions at Syndax Pharmaceuticals
In other Syndax Pharmaceuticals news, CMO Nicholas Botwood sold 34,280 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $18.00, for a total value of $617,040.00. Following the completion of the sale, the chief marketing officer directly owned 60,885 shares in the company, valued at $1,095,930. This represents a 36.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Metzger sold 32,375 shares of Syndax Pharmaceuticals stock in a transaction dated 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 in the company, valued at $11,752,594.32. This trade represents a 6.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 97,890 shares of company stock valued at $1,968,413. Insiders own 4.80% of the company's stock.
Wall Street Analyst Weigh In
SNDX has been the subject of several research reports. HC Wainwright lowered their target price on 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. decreased their price target on Syndax Pharmaceuticals from $44.00 to $40.00 and set an "overweight" rating on the stock in a report on Tuesday, August 11th. UBS Group reduced their target price on shares of Syndax Pharmaceuticals from $37.00 to $33.00 and set a "buy" rating on the stock in a research note on Friday, August 21st. Weiss Ratings upgraded shares of Syndax Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, August 21st. Finally, Bank of America reissued a "buy" rating on shares of Syndax Pharmaceuticals in a research note on Wednesday, August 5th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Syndax Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $42.30.
View Our Latest Stock Analysis on Syndax Pharmaceuticals
About Syndax Pharmaceuticals
(
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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