Man Group plc purchased a new position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 213,703 shares of the company's stock, valued at approximately $4,672,000. Man Group plc owned approximately 0.24% of Syndax Pharmaceuticals at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP bought a new position in Syndax Pharmaceuticals during the 2nd quarter valued at $26,000. Larson Financial Group LLC raised its stake in shares of Syndax Pharmaceuticals by 192.2% in the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company's stock valued at $45,000 after purchasing an additional 1,922 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Syndax Pharmaceuticals in the 3rd quarter valued at about $53,000. Smartleaf Asset Management LLC lifted its position in shares of Syndax Pharmaceuticals by 2,698.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company's stock worth $55,000 after purchasing an additional 2,564 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Syndax Pharmaceuticals in the second quarter worth about $66,000.
Insider Activity at Syndax Pharmaceuticals
In related news, CEO Michael A. Metzger sold 32,375 shares of the business's stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $24.24, for a total transaction of $784,770.00. Following the completion of the transaction, the chief executive officer owned 484,843 shares in the company, valued at $11,752,594.32. The trade was a 6.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Nicholas A.J. Botwood sold 31,235 shares of the company'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 owned 60,885 shares of the company's stock, valued at approximately $1,104,453.90. The trade was a 33.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 97,890 shares of company stock worth $1,968,413. Company insiders own 4.80% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on SNDX. Weiss Ratings raised Syndax Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, August 21st. HC Wainwright decreased their target price on Syndax Pharmaceuticals from $40.00 to $38.00 and set a "buy" rating for the company in a research report on Wednesday, August 5th. Bank of America reiterated a "buy" rating on shares of Syndax Pharmaceuticals in a research report on Wednesday, August 5th. JPMorgan Chase & Co. lowered their price target on Syndax Pharmaceuticals from $44.00 to $40.00 and set an "overweight" rating for the company in a report on Tuesday, August 11th. Finally, UBS Group dropped their price target 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 given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $41.55.
View Our Latest Report on Syndax Pharmaceuticals
Syndax Pharmaceuticals Price Performance
SNDX opened at $19.54 on Monday. The company has a quick ratio of 6.44, a current ratio of 6.77 and a debt-to-equity ratio of 38.95. The company's 50-day moving average price is $20.93 and its 200 day moving average price is $21.28. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $12.99 and a fifty-two week high of $25.59. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -7.78 and a beta of 0.40.
Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported ($0.55) EPS for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.10). The company had revenue of $72.79 million during the quarter, compared to analyst estimates of $79.36 million. Syndax Pharmaceuticals had a negative net margin of 87.52% and a negative return on equity of 372.94%. The business's revenue was up 91.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.83) earnings per share. As a group, sell-side analysts expect that Syndax Pharmaceuticals, Inc. will post -2.01 earnings per share for the current year.
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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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).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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