Vanguard Group Inc. Buys 104,683 Shares of Syndax Pharmaceuticals, Inc. $SNDX

Vanguard Group Inc. increased its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,138,617 shares of the company’s stock after acquiring an additional 104,683 shares during the quarter. Vanguard Group Inc. owned about 0.06% of Syndax Pharmaceuticals worth $79,058,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in Syndax Pharmaceuticals by 33.7% in the 2nd quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock valued at $35,951,000 after acquiring an additional 967,873 shares during the last quarter. Stempoint Capital LP increased its holdings in shares of Syndax Pharmaceuticals by 48.4% in the second quarter. Stempoint Capital LP now owns 2,372,634 shares of the company’s stock worth $22,220,000 after purchasing an additional 774,040 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Syndax Pharmaceuticals by 14.5% in the second quarter. Franklin Resources Inc. now owns 2,359,677 shares of the company’s stock worth $22,098,000 after purchasing an additional 298,272 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Syndax Pharmaceuticals by 1.3% in the second quarter. Geode Capital Management LLC now owns 2,049,350 shares of the company’s stock worth $19,195,000 after buying an additional 26,365 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in Syndax Pharmaceuticals by 99.5% during the second quarter. Qube Research & Technologies Ltd now owns 1,665,916 shares of the company’s stock valued at $15,601,000 after buying an additional 831,067 shares during the last quarter.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX opened at $21.58 on Friday. The firm has a market capitalization of $1.90 billion, a PE ratio of -6.56 and a beta of 0.42. The stock’s fifty day moving average is $20.87 and its 200 day moving average is $18.20. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $8.58 and a fifty-two week high of $22.73. The company has a debt-to-equity ratio of 5.32, a quick ratio of 4.42 and a current ratio of 4.40.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.14). The firm had revenue of $68.73 million for the quarter, compared to the consensus estimate of $64.75 million. Syndax Pharmaceuticals had a negative net margin of 165.37% and a negative return on equity of 206.62%. The company’s revenue was up 792.6% on a year-over-year basis. During the same quarter last year, the firm earned ($1.10) EPS. On average, sell-side analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Insider Activity

In other news, CFO Keith A. Goldan sold 3,410 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,953,221.87. This represents a 2.37% decrease in their ownership of the stock. The transaction 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 that occurred on Monday, February 9th. The stock was sold at an average price of $21.03, for a total value of $360,853.77. Following the completion of the sale, the chief executive officer owned 491,690 shares in the company, valued at approximately $10,340,240.70. The trade was a 3.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,063 shares of company stock worth $628,332 over the last quarter. 4.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SNDX has been the topic of a number of research reports. Wall Street Zen downgraded Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. JPMorgan Chase & Co. cut their target price on shares of Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, November 12th. Stifel Nicolaus set a $45.00 price target on shares of Syndax Pharmaceuticals in a research note on Friday, February 27th. Barclays increased their price objective on shares of Syndax Pharmaceuticals from $22.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, November 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Monday, December 29th. One investment 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 given a Sell rating to the stock. According to data from MarketBeat.com, Syndax Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $37.90.

Syndax Pharmaceuticals 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.