Sector Gamma AS Raises Stock Position in Syndax Pharmaceuticals, Inc. $SNDX

Sector Gamma AS grew its holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 19.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 252,062 shares of the company’s stock after buying an additional 41,248 shares during the period. Syndax Pharmaceuticals makes up 1.2% of Sector Gamma AS’s portfolio, making the stock its 28th largest holding. Sector Gamma AS owned approximately 0.29% of Syndax Pharmaceuticals worth $5,296,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC grew 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 worth $45,000 after buying an additional 1,922 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Syndax Pharmaceuticals in the 3rd quarter worth $53,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Syndax Pharmaceuticals by 26.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock worth $89,000 after buying an additional 893 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Syndax Pharmaceuticals in the 2nd quarter worth $66,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Syndax Pharmaceuticals by 103.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock worth $79,000 after buying an additional 4,308 shares in the last quarter.

Insiders Place Their Bets

In related news, CEO Michael A. Metzger sold 6,847 shares of Syndax Pharmaceuticals stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $18.99, for a total transaction of $130,024.53. Following the completion of the sale, the chief executive officer owned 484,843 shares in the company, valued at $9,207,168.57. This trade represents a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on SNDX shares. Wall Street Zen raised shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. UBS Group dropped their price objective on shares of Syndax Pharmaceuticals from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Stifel Nicolaus set a $45.00 target price on shares of Syndax Pharmaceuticals in a report on Friday, February 27th. The Goldman Sachs Group raised their target price on shares of Syndax Pharmaceuticals from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Finally, Mizuho lowered their target price on shares of Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $42.55.

Syndax Pharmaceuticals Price Performance

Syndax Pharmaceuticals stock opened at $17.91 on Friday. The firm has a 50-day moving average price of $21.17 and a 200-day moving average price of $21.24. The firm has a market capitalization of $1.59 billion, a PE ratio of -6.42 and a beta of 0.38. The company has a current ratio of 5.47, a quick ratio of 5.06 and a debt-to-equity ratio of 8.26. Syndax Pharmaceuticals, Inc. has a 12-month low of $8.59 and a 12-month high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.11. The firm had revenue of $64.86 million during the quarter, compared to analyst estimates of $69.76 million. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. The business’s revenue was up 224.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.98) EPS. As a group, equities research analysts forecast that Syndax Pharmaceuticals, Inc. will post -1.66 EPS for the current year.

About Syndax Pharmaceuticals

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.