Phoenix Financial Ltd. Takes $701,000 Position in Syndax Pharmaceuticals, Inc. $SNDX

Phoenix Financial Ltd. bought a new stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 74,963 shares of the company's stock, valued at approximately $701,000. Phoenix Financial Ltd. owned approximately 0.09% of Syndax Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SNDX. Quarry LP purchased a new stake in Syndax Pharmaceuticals in the 1st quarter worth about $25,000. Magnetar Financial LLC purchased a new stake in Syndax Pharmaceuticals in the 1st quarter worth about $132,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Syndax Pharmaceuticals in the 1st quarter worth about $162,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Syndax Pharmaceuticals in the 1st quarter worth about $179,000. Finally, E Fund Management Co. Ltd. raised its position in Syndax Pharmaceuticals by 27.2% in the 1st quarter. E Fund Management Co. Ltd. now owns 16,031 shares of the company's stock worth $197,000 after purchasing an additional 3,428 shares during the period.

Syndax Pharmaceuticals Price Performance

NASDAQ SNDX opened at $15.11 on Thursday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 4.55 and a current ratio of 4.71. The firm's 50 day moving average price is $15.66 and its 200-day moving average price is $12.41. 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 $1.30 billion, a PE ratio of -3.88 and a beta of 0.68.

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

Insider Buying and Selling

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 157,307 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $16.41, for a total value of $2,581,407.87. Following the completion of the sale, the chief executive officer directly owned 298,661 shares in the company, valued at $4,901,027.01. This trade represents a 34.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $304,128.00. Following the completion of the transaction, the director directly owned 191,763 shares in the company, valued at $3,037,525.92. This represents a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,707 shares of company stock worth $3,183,904. Insiders own 4.10% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on SNDX shares. Guggenheim initiated coverage on shares of Syndax Pharmaceuticals in a research report on Thursday, September 4th. They issued a "buy" rating and a $34.00 price objective on the stock. BTIG Research reaffirmed a "buy" rating and set a $56.00 target price on shares of Syndax Pharmaceuticals in a research report on Friday, September 19th. HC Wainwright initiated coverage on shares of Syndax Pharmaceuticals in a research report on Thursday, October 16th. They set a "buy" rating and a $40.00 target price on the stock. Citigroup raised their target price on shares of Syndax Pharmaceuticals from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, UBS Group reduced their target price on shares of Syndax Pharmaceuticals from $37.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Syndax Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $38.00.

About Syndax Pharmaceuticals

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).

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