Syndax Pharmaceuticals, Inc. $SNDX is Eversept Partners LP’s 6th Largest Position

Eversept Partners LP cut its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 12.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,885,622 shares of the company’s stock after selling 428,786 shares during the period. Syndax Pharmaceuticals comprises about 3.6% of Eversept Partners LP’s holdings, making the stock its 6th biggest holding. Eversept Partners LP’s holdings in Syndax Pharmaceuticals were worth $67,408,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SNDX. Smartleaf Asset Management LLC grew its position in shares of Syndax Pharmaceuticals by 2,698.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock valued at $55,000 after purchasing an additional 2,564 shares during the period. Larson Financial Group LLC lifted its stake in Syndax Pharmaceuticals by 192.2% in the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock valued at $45,000 after buying an additional 1,922 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Syndax Pharmaceuticals in the 3rd quarter worth about $53,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Syndax Pharmaceuticals by 26.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock worth $89,000 after acquiring an additional 893 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Syndax Pharmaceuticals in the second quarter worth about $66,000.

Insider Activity

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 32,375 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $24.24, for a total transaction of $784,770.00. Following the sale, the chief executive officer directly owned 484,843 shares in the company, valued at $11,752,594.32. This represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Nicholas A.J. Botwood sold 34,280 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $18.00, for a total transaction of $617,040.00. Following the sale, 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 105,914 shares of company stock valued at $2,120,789. 4.80% of the stock is currently owned by corporate insiders.

Syndax Pharmaceuticals Trading Down 1.4%

NASDAQ SNDX opened at $20.52 on Tuesday. The company has a debt-to-equity ratio of 8.26, a current ratio of 5.47 and a quick ratio of 5.06. The stock has a market capitalization of $1.82 billion, a P/E ratio of -7.35 and a beta of 0.37. The firm’s 50-day moving average is $20.47 and its two-hundred day moving average is $21.46. Syndax Pharmaceuticals, Inc. has a 12 month low of $9.42 and a 12 month high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share 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 business had revenue of $64.86 million during the quarter, compared to analysts’ expectations of $69.76 million. During the same period last year, the business earned ($0.98) earnings per share. The business’s revenue for the quarter was up 224.3% on a year-over-year basis. On average, sell-side analysts anticipate that Syndax Pharmaceuticals, Inc. will post -1.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SNDX shares. UBS Group restated a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Friday, June 12th. The Goldman Sachs Group upped their target price on Syndax Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. Mizuho reduced their price target on Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Jefferies Financial Group reissued a “buy” rating and set a $40.00 price target (down from $48.00) on shares of Syndax Pharmaceuticals in a research report on Monday, March 30th. Finally, HC Wainwright restated a “buy” rating and set a $40.00 price target on shares of Syndax Pharmaceuticals in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.55.

Syndax Pharmaceuticals Company 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.