54,835 Shares in Syndax Pharmaceuticals, Inc. $SNDX Acquired by Ieq Capital LLC

Ieq Capital LLC bought a new stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) during the 2nd quarter, Holdings Channel.com reports. The firm bought 54,835 shares of the company’s stock, valued at approximately $1,199,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Syndax Pharmaceuticals during the 2nd quarter worth approximately $197,177,000. Elmind Capital LP bought a new stake in shares of Syndax Pharmaceuticals in the 4th quarter valued at $38,974,000. Vanguard Group Inc. increased its position in shares of Syndax Pharmaceuticals by 21.2% during the fourth quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock worth $130,899,000 after buying an additional 1,091,717 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Syndax Pharmaceuticals during the second quarter worth $22,736,000. Finally, Bank of America Corp DE raised its stake in Syndax Pharmaceuticals by 33.7% during the second 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 last quarter.

Insider Activity

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 32,375 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $24.24, for a total value of $784,770.00. Following the transaction, the chief executive officer owned 484,843 shares in the company, valued at approximately $11,752,594.32. This represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Nicholas A.J. Botwood sold 31,235 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $18.14, for a total value of $566,602.90. Following the completion of the sale, the chief marketing officer directly owned 60,885 shares of the company’s stock, valued at $1,104,453.90. This trade represents a 33.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 105,914 shares of company stock valued at $2,120,789. 4.80% of the stock is currently owned by company insiders.

Syndax Pharmaceuticals Stock Up 0.9%

Shares of NASDAQ SNDX opened at $20.09 on Thursday. The company has a quick ratio of 6.44, a current ratio of 6.77 and a debt-to-equity ratio of 38.95. The firm has a market cap of $1.78 billion, a PE ratio of -8.00 and a beta of 0.40. The company’s fifty day simple moving average is $20.89 and its 200 day simple moving average is $21.30. Syndax Pharmaceuticals, Inc. has a 12-month low of $12.99 and a 12-month high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.10). Syndax Pharmaceuticals had a negative net margin of 87.52% and a negative return on equity of 372.94%. The company had revenue of $72.79 million during the quarter, compared to the consensus estimate of $79.36 million. During the same period last year, the firm posted ($0.83) earnings per share. The company’s revenue for the quarter was up 91.8% on a year-over-year basis. As a group, sell-side analysts forecast that Syndax Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on SNDX. HC Wainwright dropped their target price on shares of Syndax Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Barclays lifted their price objective on Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Weiss Ratings raised Syndax Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. JPMorgan Chase & Co. cut their target price on Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. Finally, Bank of America reaffirmed a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.55.

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.