Sector Gamma AS Buys 41,248 Shares of Syndax Pharmaceuticals, Inc. $SNDX

Sector Gamma AS boosted its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 19.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 252,062 shares of the company’s stock after purchasing an additional 41,248 shares during the period. Syndax Pharmaceuticals comprises approximately 1.2% of Sector Gamma AS’s holdings, making the stock its 28th largest position. Sector Gamma AS’s holdings in Syndax Pharmaceuticals were worth $5,296,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNDX. AQR Capital Management LLC lifted its holdings in Syndax Pharmaceuticals by 478.8% during the 1st 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 valued at $705,000 after buying an additional 3,094 shares in the last quarter. Caxton Associates LLP bought a new stake in Syndax Pharmaceuticals during the 1st quarter valued at about $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Syndax Pharmaceuticals by 18.0% during 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 buying an additional 30,596 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Syndax Pharmaceuticals by 4.9% during the 2nd quarter. Legal & General Group Plc now owns 84,575 shares of the company’s stock valued at $792,000 after buying an additional 3,937 shares in the last quarter.

Syndax Pharmaceuticals Trading Up 1.9%

NASDAQ:SNDX opened at $17.91 on Friday. Syndax Pharmaceuticals, Inc. has a one year low of $8.59 and a one year high of $25.59. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.06 and a current ratio of 5.47. The firm has a market cap of $1.59 billion, a P/E ratio of -6.42 and a beta of 0.38. The firm has a 50-day simple moving average of $21.17 and a 200-day simple moving average of $21.24.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.11. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. The business had revenue of $64.86 million during the quarter, compared to analyst estimates of $69.76 million. During the same quarter in the previous year, the business posted ($0.98) EPS. The company’s quarterly revenue was up 224.3% compared to the same quarter last year. Equities analysts anticipate that Syndax Pharmaceuticals, Inc. will post -1.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Jefferies Financial Group restated a “buy” rating and issued a $40.00 price target (down from $48.00) on shares of Syndax Pharmaceuticals in a report on Monday, March 30th. Mizuho reduced their price target 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. HC Wainwright restated a “buy” rating and issued a $40.00 price target on shares of Syndax Pharmaceuticals in a report on Wednesday, June 3rd. Finally, Citigroup boosted their price target on shares of Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a “buy” rating in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Syndax Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $42.55.

Insider Activity at Syndax Pharmaceuticals

In related news, CEO Michael A. Metzger sold 6,847 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer owned 484,843 shares in the company, valued at $9,207,168.57. The trade was a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.10% of the stock is currently owned by company insiders.

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.