Goldman Sachs Group Inc. Raises Holdings in Syndax Pharmaceuticals, Inc. $SNDX

Goldman Sachs Group Inc. grew its position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,695,375 shares of the company’s stock after purchasing an additional 208,941 shares during the quarter. Goldman Sachs Group Inc. owned approximately 6.55% of Syndax Pharmaceuticals worth $119,660,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Palumbo Wealth Management LLC acquired a new stake in shares of Syndax Pharmaceuticals during the fourth quarter worth about $1,079,000. Apis Capital Advisors LLC acquired a new stake in shares of Syndax Pharmaceuticals during the third quarter worth about $9,816,000. Torray Investment Partners LLC acquired a new stake in shares of Syndax Pharmaceuticals during the fourth quarter worth about $2,055,000. SG Americas Securities LLC boosted its stake in shares of Syndax Pharmaceuticals by 184.5% during the fourth quarter. SG Americas Securities LLC now owns 129,227 shares of the company’s stock worth $2,715,000 after buying an additional 83,801 shares during the period. Finally, Candriam S.C.A. boosted its stake in shares of Syndax Pharmaceuticals by 37.1% during the third quarter. Candriam S.C.A. now owns 925,332 shares of the company’s stock worth $14,236,000 after buying an additional 250,247 shares during the period.

Insider Activity

In other news, CEO Michael A. Metzger sold 6,847 shares of Syndax Pharmaceuticals 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 sale, the chief executive officer directly owned 484,843 shares in the company, valued at approximately $9,207,168.57. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 4.10% of the company’s stock.

Syndax Pharmaceuticals Price Performance

SNDX stock opened at $16.96 on Tuesday. The firm has a 50 day moving average of $21.49 and a 200-day moving average of $21.23. Syndax Pharmaceuticals, Inc. has a 12-month low of $8.59 and a 12-month high of $25.59. The company has a current ratio of 5.47, a quick ratio of 5.06 and a debt-to-equity ratio of 8.26. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -6.08 and a beta of 0.38.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $64.86 million during the quarter, compared to the consensus estimate of $69.76 million. During the same period last year, the firm earned ($0.98) EPS. The company’s revenue for the quarter was up 224.3% on a year-over-year basis. As a group, equities analysts expect that Syndax Pharmaceuticals, Inc. will post -1.66 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $40.00 target price (down from $48.00) on shares of Syndax Pharmaceuticals in a research note on Monday, March 30th. Citigroup increased 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. JPMorgan Chase & Co. increased their target price on shares of Syndax Pharmaceuticals from $33.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, March 9th. Stifel Nicolaus set a $45.00 target price on shares of Syndax Pharmaceuticals in a research note on Friday, February 27th. Finally, HC Wainwright restated a “buy” rating and issued a $40.00 price objective on shares of Syndax Pharmaceuticals in a research report on Wednesday, June 3rd. One investment 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.55.

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.