Kingdon Capital Management L.L.C. Purchases 400,000 Shares of Syndax Pharmaceuticals, Inc. $SNDX

Kingdon Capital Management L.L.C. boosted its position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 19.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,500,000 shares of the company’s stock after acquiring an additional 400,000 shares during the quarter. Syndax Pharmaceuticals accounts for approximately 4.8% of Kingdon Capital Management L.L.C.’s investment portfolio, making the stock its biggest position. Kingdon Capital Management L.L.C. owned 2.88% of Syndax Pharmaceuticals worth $38,462,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of America Corp DE increased its stake in Syndax Pharmaceuticals by 33.7% during the 2nd quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock worth $35,951,000 after buying an additional 967,873 shares during the period. Qube Research & Technologies Ltd grew its stake in shares of Syndax Pharmaceuticals by 99.5% in the second quarter. Qube Research & Technologies Ltd now owns 1,665,916 shares of the company’s stock worth $15,601,000 after acquiring an additional 831,067 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Syndax Pharmaceuticals by 126.8% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,432,440 shares of the company’s stock worth $13,415,000 after acquiring an additional 800,800 shares during the period. Stempoint Capital LP raised its stake in shares of Syndax Pharmaceuticals by 48.4% in the second quarter. Stempoint Capital LP now owns 2,372,634 shares of the company’s stock valued at $22,220,000 after acquiring an additional 774,040 shares in the last quarter. Finally, Apis Capital Advisors LLC acquired a new stake in shares of Syndax Pharmaceuticals in the third quarter valued at $9,816,000.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX opened at $23.50 on Monday. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -7.14 and a beta of 0.42. Syndax Pharmaceuticals, Inc. has a 52-week low of $8.58 and a 52-week high of $25.16. The company has a quick ratio of 4.12, a current ratio of 4.40 and a debt-to-equity ratio of 5.32. The stock has a 50 day moving average price of $21.18 and a 200 day moving average price of $18.56.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data 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). Syndax Pharmaceuticals had a negative return on equity of 206.62% and a negative net margin of 165.37%.The company had revenue of $68.73 million for the quarter, compared to analyst estimates of $64.75 million. During the same period in the previous year, the business posted ($1.10) EPS. The firm’s revenue for the quarter was up 792.6% compared to the same quarter last year. Research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Keith A. Goldan sold 3,410 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer directly owned 140,429 shares of the company’s stock, valued at $2,953,221.87. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael A. Metzger sold 17,159 shares of the firm’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 transaction, the chief executive officer directly owned 491,690 shares in the company, valued at approximately $10,340,240.70. The trade was a 3.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 30,063 shares of company stock valued at $628,332. 4.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Monday, December 29th. Barclays lifted their price objective on Syndax Pharmaceuticals from $22.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, November 24th. BTIG Research restated a “buy” rating and set a $56.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 9th. Wall Street Zen upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Citigroup boosted their price target on shares of Syndax Pharmaceuticals from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $39.10.

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.