Eventide Asset Management LLC Has $26.01 Million Stock Holdings in Syndax Pharmaceuticals, Inc. $SNDX

Eventide Asset Management LLC lifted its position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 25.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,238,196 shares of the company’s stock after acquiring an additional 249,710 shares during the period. Eventide Asset Management LLC’s holdings in Syndax Pharmaceuticals were worth $26,014,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Pallas Capital Advisors LLC raised its position in shares of Syndax Pharmaceuticals by 8.7% in the 4th quarter. Pallas Capital Advisors LLC now owns 10,985 shares of the company’s stock valued at $231,000 after acquiring an additional 875 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Syndax Pharmaceuticals by 26.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock valued at $89,000 after acquiring an additional 893 shares during the period. Schroder Investment Management Group raised its position in shares of Syndax Pharmaceuticals by 1.0% in the 3rd quarter. Schroder Investment Management Group now owns 123,404 shares of the company’s stock valued at $1,920,000 after acquiring an additional 1,241 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Syndax Pharmaceuticals by 9.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 17,562 shares of the company’s stock valued at $374,000 after acquiring an additional 1,455 shares during the period. Finally, HighTower Advisors LLC raised its position in shares of Syndax Pharmaceuticals by 8.7% in the 4th quarter. HighTower Advisors LLC now owns 18,940 shares of the company’s stock valued at $398,000 after acquiring an additional 1,517 shares during the period.

Analyst Upgrades and Downgrades

SNDX has been the topic of a number of analyst reports. Stifel Nicolaus set a $45.00 price target on shares of Syndax Pharmaceuticals in a research report on Friday, February 27th. Wall Street Zen upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. JPMorgan Chase & Co. increased their price target on shares of Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, March 9th. The Goldman Sachs Group increased their price target on shares of Syndax Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. Finally, HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Syndax Pharmaceuticals in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.55.

Insiders Place Their Bets

In related news, CMO Nicholas A.J. Botwood sold 34,280 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $18.00, for a total transaction of $617,040.00. Following the transaction, the chief marketing officer directly owned 60,885 shares in the company, valued at approximately $1,095,930. The trade was a 36.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael A. Metzger sold 6,847 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $18.99, for a total transaction of $130,024.53. Following the transaction, the chief executive officer owned 484,843 shares in the company, valued at approximately $9,207,168.57. The trade was a 1.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 73,539 shares of company stock worth $1,336,019. 4.10% of the stock is owned by corporate insiders.

Syndax Pharmaceuticals Price Performance

NASDAQ SNDX opened at $18.25 on Friday. The company has a quick ratio of 5.06, a current ratio of 5.47 and a debt-to-equity ratio of 8.26. Syndax Pharmaceuticals, Inc. has a 12-month low of $8.59 and a 12-month high of $25.59. The company has a market capitalization of $1.62 billion, a PE ratio of -6.54 and a beta of 0.38. The firm’s 50 day moving average is $21.06 and its 200-day moving average is $21.22.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $69.76 million. During the same period last year, the company earned ($0.98) earnings per share. The firm’s revenue was up 224.3% compared to the same quarter last year. Equities research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -1.66 earnings per share for the current fiscal year.

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.