Syndax Pharmaceuticals, Inc. $SNDX Stock Position Boosted by Kingdon Capital Management L.L.C.

Kingdon Capital Management L.L.C. boosted its holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 19.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,500,000 shares of the company’s stock after purchasing an additional 400,000 shares during the quarter. Syndax Pharmaceuticals comprises 4.8% of Kingdon Capital Management L.L.C.’s investment portfolio, making the stock its largest holding. Kingdon Capital Management L.L.C.’s holdings in Syndax Pharmaceuticals were worth $38,462,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. AQR Capital Management LLC raised its holdings in shares of Syndax Pharmaceuticals by 478.8% in the first quarter. AQR Capital Management LLC now owns 377,444 shares of the company’s stock valued at $4,637,000 after buying an additional 312,231 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Syndax Pharmaceuticals by 5.8% during the first 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 during the period. Caxton Associates LLP purchased a new position in shares of Syndax Pharmaceuticals during the first quarter worth about $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Syndax Pharmaceuticals by 18.0% in the 1st 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 period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Syndax Pharmaceuticals in the 2nd quarter valued at about $439,000.

Insider Activity

In other Syndax Pharmaceuticals news, CFO Keith A. Goldan sold 3,410 shares of the company’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 $71,712.30. Following the transaction, the chief financial officer directly owned 140,429 shares in the company, valued at approximately $2,953,221.87. This represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael A. Metzger sold 17,159 shares of the 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 completion of the transaction, the chief executive officer directly owned 491,690 shares of the company’s stock, valued at approximately $10,340,240.70. This trade represents a 3.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,063 shares of company stock valued at $628,332 in the last quarter. Company insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on SNDX shares. Stifel Nicolaus set a $45.00 price objective on Syndax Pharmaceuticals in a research report on Friday, February 27th. Wall Street Zen raised Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Monday, December 29th. Citigroup boosted their price objective on shares of Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, Barclays upped their price objective on shares of Syndax Pharmaceuticals from $22.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.10.

Syndax Pharmaceuticals Stock Down 2.0%

SNDX opened at $23.50 on Monday. The company has a debt-to-equity ratio of 5.32, a current ratio of 4.40 and a quick ratio of 4.12. Syndax Pharmaceuticals, Inc. has a 12 month low of $8.58 and a 12 month high of $25.16. The stock has a market capitalization of $2.07 billion, a P/E ratio of -7.14 and a beta of 0.42. The business has a 50 day simple moving average of $21.18 and a 200-day simple moving average 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 (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $68.73 million during the quarter, compared to analysts’ expectations of $64.75 million. During the same quarter in the previous year, the company posted ($1.10) EPS. The company’s revenue was up 792.6% compared to the same quarter last year. On average, equities analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

Syndax Pharmaceuticals Company 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.