Virtus Investment Advisers LLC Sells 3,379 Shares of Syndax Pharmaceuticals, Inc. $SNDX

Virtus Investment Advisers LLC cut its position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 27.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 8,813 shares of the company’s stock after selling 3,379 shares during the quarter. Virtus Investment Advisers LLC’s holdings in Syndax Pharmaceuticals were worth $83,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Syndax Pharmaceuticals in the first quarter valued at approximately $179,000. XTX Topco Ltd bought a new position in shares of Syndax Pharmaceuticals in the 1st quarter valued at $783,000. Deutsche Bank AG raised its holdings in shares of Syndax Pharmaceuticals by 127.7% during the 1st quarter. Deutsche Bank AG now owns 204,732 shares of the company’s stock worth $2,516,000 after buying an additional 114,828 shares in the last quarter. Invesco Ltd. lifted its position in shares of Syndax Pharmaceuticals by 49.7% during the 1st quarter. Invesco Ltd. now owns 76,848 shares of the company’s stock worth $944,000 after buying an additional 25,524 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of Syndax Pharmaceuticals during the 1st quarter worth $297,000.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. decreased their target price on Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 12th. Citigroup raised their price target on shares of Syndax Pharmaceuticals from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Guggenheim began coverage on shares of Syndax Pharmaceuticals in a research report on Thursday, September 4th. They set a “buy” rating and a $34.00 price objective for the company. The Goldman Sachs Group increased their price objective on shares of Syndax Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Finally, Wall Street Zen upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.20.

Syndax Pharmaceuticals Stock Up 1.3%

Shares of NASDAQ SNDX opened at $20.12 on Monday. The company has a 50 day simple moving average of $15.85 and a 200 day simple moving average of $13.26. The company has a debt-to-equity ratio of 2.06, a current ratio of 4.71 and a quick ratio of 4.55. Syndax Pharmaceuticals, Inc. has a 1 year low of $8.58 and a 1 year high of $20.20. The firm has a market cap of $1.75 billion, a PE ratio of -5.17 and a beta of 0.73.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.04. The firm had revenue of $45.87 million during the quarter, compared to analysts’ expectations of $49.08 million. Syndax Pharmaceuticals had a negative net margin of 428.48% and a negative return on equity of 130.47%. The company’s revenue was up 266.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.98) EPS. On average, research analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Michael A. Metzger sold 157,307 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $16.41, for a total transaction of $2,581,407.87. Following the completion of the transaction, the chief executive officer directly owned 298,661 shares of the company’s stock, valued at $4,901,027.01. This trade represents a 34.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.10% of the stock is owned by insiders.

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).