Knott David M Jr Buys 75,222 Shares of Syndax Pharmaceuticals, Inc. $SNDX

Knott David M Jr lifted its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 21.3% in the third quarter, Holdings Channel reports. The firm owned 428,000 shares of the company’s stock after buying an additional 75,222 shares during the period. Syndax Pharmaceuticals accounts for about 2.7% of Knott David M Jr’s investment portfolio, making the stock its 7th largest position. Knott David M Jr’s holdings in Syndax Pharmaceuticals were worth $6,585,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNDX. AQR Capital Management LLC boosted its holdings 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 buying an additional 312,231 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Syndax Pharmaceuticals by 5.8% during 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 in the last quarter. Caxton Associates LLP acquired a new position in shares of Syndax Pharmaceuticals during the first quarter valued at approximately $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Syndax Pharmaceuticals by 18.0% during 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 valued at $2,466,000 after acquiring an additional 30,596 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of Syndax Pharmaceuticals by 11.9% in 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 in the last quarter.

Syndax Pharmaceuticals Trading Up 2.3%

Shares of Syndax Pharmaceuticals stock opened at $22.07 on Friday. The company has a debt-to-equity ratio of 5.32, a current ratio of 4.40 and a quick ratio of 4.42. The stock’s 50 day simple moving average is $20.89 and its 200-day simple moving average is $18.24. The stock has a market cap of $1.95 billion, a P/E ratio of -6.71 and a beta of 0.42. Syndax Pharmaceuticals, Inc. has a 1-year low of $8.58 and a 1-year high of $22.73.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.14). Syndax Pharmaceuticals had a negative net margin of 165.37% and a negative return on equity of 206.62%. The company had revenue of $68.73 million during the quarter, compared to analyst estimates of $64.75 million. During the same period in the prior year, the business posted ($1.10) EPS. Syndax Pharmaceuticals’s revenue for the quarter was up 792.6% compared to the same quarter last year. Analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Insider Buying and Selling at Syndax Pharmaceuticals

In other news, CFO Keith A. Goldan sold 3,410 shares of Syndax Pharmaceuticals stock in a transaction on Monday, February 9th. The stock was sold at an average price of $21.03, for a total transaction of $71,712.30. Following the transaction, the chief financial officer owned 140,429 shares in the company, valued at $2,953,221.87. The trade was a 2.37% decrease in their position. The transaction 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 business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $21.03, for a total transaction 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 90 days, insiders sold 30,063 shares of company stock valued at $628,332. 4.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. BTIG Research reaffirmed a “buy” rating and issued a $56.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 9th. Barclays raised their price objective on Syndax Pharmaceuticals from $22.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, November 24th. Citigroup lifted their target price on shares of Syndax Pharmaceuticals from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Stifel Nicolaus set a $45.00 target price on shares of Syndax Pharmaceuticals in a report on Friday, February 27th. Finally, JPMorgan Chase & Co. reduced 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. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.90.

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.