Vanguard Group Inc. Buys 104,683 Shares of Syndax Pharmaceuticals, Inc. $SNDX

Key Points

• Vanguard increased its stake in Syndax Pharmaceuticals by 2.1%, buying 104,683 shares to hold 5,138,617 shares (about 5.97% of the company) valued at roughly $79.06 million.
• Syndax reported revenue of $68.73 million (up 792.6% year-over-year) but missed on EPS at ($0.78) versus estimates of ($0.64), and the company shows negative profitability metrics (ROE -206.62%, net margin -165.37%).
• Analysts have an average rating of "Moderate Buy" with a consensus target of $37.90, while the stock trades around $21.58 with a market cap near $1.90 billion and a 12-month high of $22.73.

Vanguard Group Inc. increased its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,138,617 shares of the company's stock after purchasing an additional 104,683 shares during the period. Vanguard Group Inc. owned approximately 5.97% of Syndax Pharmaceuticals worth $79,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNDX. AQR Capital Management LLC grew its position in Syndax Pharmaceuticals by 478.8% in the 1st quarter. AQR Capital Management LLC now owns 377,444 shares of the company's stock worth $4,637,000 after purchasing an additional 312,231 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Syndax Pharmaceuticals by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,842 shares of the company's stock worth $705,000 after buying an additional 3,094 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Syndax Pharmaceuticals in the first quarter worth $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Syndax Pharmaceuticals by 18.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 200,696 shares of the company's stock worth $2,466,000 after acquiring an additional 30,596 shares during the period. Finally, Teacher Retirement System of Texas increased its position in Syndax Pharmaceuticals by 11.9% during the second quarter. Teacher Retirement System of Texas now owns 23,132 shares of the company's stock valued at $217,000 after acquiring an additional 2,458 shares during the last quarter.

Syndax Pharmaceuticals Trading Down 0.2%

Syndax Pharmaceuticals stock opened at $21.58 on Friday. Syndax Pharmaceuticals, Inc. has a 12-month low of $8.58 and a 12-month high of $22.73. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -6.56 and a beta of 0.42. The firm has a 50 day moving average of $20.87 and a 200 day moving average of $18.20. The company has a current ratio of 4.40, a quick ratio of 4.42 and a debt-to-equity ratio of 5.32.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.78) earnings per share for the quarter, missing analysts' consensus estimates of ($0.64) by ($0.14). The firm had revenue of $68.73 million during the quarter, compared to the consensus estimate of $64.75 million. Syndax Pharmaceuticals had a negative return on equity of 206.62% and a negative net margin of 165.37%.The business's revenue for the quarter was up 792.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.10) earnings per share. As a group, research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Insider Buying and Selling at Syndax Pharmaceuticals

In other news, CEO Michael A. Metzger sold 17,159 shares of the company's stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $21.03, for a total value of $360,853.77. Following the completion of the transaction, the chief executive officer owned 491,690 shares of the company's stock, valued at $10,340,240.70. This represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Keith A. Goldan sold 3,410 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $21.03, for a total value of $71,712.30. Following the sale, the chief financial officer directly owned 140,429 shares in the company, valued at $2,953,221.87. This trade represents a 2.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,063 shares of company stock valued at $628,332 in the last ninety days. 4.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SNDX shares. BTIG Research reissued a "buy" rating and issued a $56.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 9th. Wall Street Zen cut shares of Syndax Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. JPMorgan Chase & Co. cut their target price on shares of Syndax Pharmaceuticals from $40.00 to $33.00 and set an "overweight" rating for the company in a research report on Wednesday, November 12th. Stifel Nicolaus set a $45.00 target price on shares of Syndax Pharmaceuticals in a report on Friday, February 27th. Finally, Citigroup lifted their price target on shares of Syndax Pharmaceuticals from $51.00 to $57.00 and gave the stock a "buy" rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Syndax Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $37.90.

Syndax Pharmaceuticals Profile

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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