Jupiter Topco LLC Purchases New Shares in Syndax Pharmaceuticals, Inc. $SNDX

Jupiter Topco LLC acquired a new position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 39,335 shares of the company’s stock, valued at approximately $860,000.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Syndax Pharmaceuticals in the second quarter valued at approximately $197,177,000. Vanguard Group Inc. lifted its position in shares of Syndax Pharmaceuticals by 21.2% during the 4th quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock valued at $130,899,000 after buying an additional 1,091,717 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Syndax Pharmaceuticals by 3.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,695,375 shares of the company’s stock valued at $119,660,000 after acquiring an additional 208,941 shares during the period. State Street Corp grew its stake in Syndax Pharmaceuticals by 19.3% in the 4th quarter. State Street Corp now owns 4,596,552 shares of the company’s stock valued at $96,574,000 after acquiring an additional 743,003 shares during the period. Finally, 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 worth $35,951,000 after acquiring an additional 967,873 shares in the last quarter.

Syndax Pharmaceuticals Stock Performance

SNDX opened at $20.56 on Friday. The firm has a market capitalization of $1.82 billion, a PE ratio of -8.19 and a beta of 0.37. Syndax Pharmaceuticals, Inc. has a twelve month low of $12.99 and a twelve month high of $25.59. The firm’s 50-day moving average price is $20.96 and its 200 day moving average price is $21.25. The company has a current ratio of 6.77, a quick ratio of 6.44 and a debt-to-equity ratio of 38.95.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.10). Syndax Pharmaceuticals had a negative net margin of 87.52% and a negative return on equity of 372.94%. The business had revenue of $72.79 million during the quarter, compared to analyst estimates of $79.36 million. During the same quarter in the previous year, the company posted ($0.83) EPS. The firm’s revenue was up 91.8% on a year-over-year basis. As a group, sell-side analysts expect that Syndax Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CMO Nicholas Botwood sold 31,235 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $18.14, for a total value of $566,602.90. Following the completion of the sale, the chief marketing officer directly owned 60,885 shares in the company, valued at $1,104,453.90. This represents a 33.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Metzger sold 32,375 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $24.24, for a total value of $784,770.00. Following the transaction, the chief executive officer owned 484,843 shares in the company, valued at approximately $11,752,594.32. The trade was a 6.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 97,890 shares of company stock valued at $1,968,413 over the last 90 days. Company insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

SNDX has been the topic of several recent analyst reports. Bank of America reaffirmed a “buy” rating on shares of Syndax Pharmaceuticals in a report on Wednesday, August 5th. UBS Group lowered their price objective on Syndax Pharmaceuticals from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, August 21st. HC Wainwright cut their price objective on Syndax Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Weiss Ratings upgraded Syndax Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Finally, JPMorgan Chase & Co. lowered their price target on Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.30.

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.