Syndax Pharmaceuticals, Inc. $SNDX Position Reduced by Prosight Management LP

Prosight Management LP decreased its position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 7.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,003,400 shares of the company’s stock after selling 76,273 shares during the period. Syndax Pharmaceuticals comprises approximately 3.6% of Prosight Management LP’s portfolio, making the stock its 9th biggest holding. Prosight Management LP owned 1.15% of Syndax Pharmaceuticals worth $15,437,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Sector Gamma AS purchased a new stake in shares of Syndax Pharmaceuticals in the 3rd quarter worth about $3,243,000. Franklin Resources Inc. increased its holdings in Syndax Pharmaceuticals by 14.5% during the 2nd quarter. Franklin Resources Inc. now owns 2,359,677 shares of the company’s stock valued at $22,098,000 after acquiring an additional 298,272 shares in the last quarter. Schroder Investment Management Group raised its position in Syndax Pharmaceuticals by 112.2% during the second quarter. Schroder Investment Management Group now owns 122,163 shares of the company’s stock worth $1,144,000 after acquiring an additional 64,598 shares during the last quarter. Keybank National Association OH acquired a new position in Syndax Pharmaceuticals during the third quarter worth about $2,305,000. Finally, Candriam S.C.A. lifted its holdings in shares of Syndax Pharmaceuticals by 37.1% in the third quarter. Candriam S.C.A. now owns 925,332 shares of the company’s stock valued at $14,236,000 after purchasing an additional 250,247 shares in the last quarter.

Wall Street Analyst Weigh In

SNDX has been the topic of several research reports. BTIG Research reiterated a “buy” rating and issued a $56.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 9th. Stifel Nicolaus set a $45.00 price objective on Syndax Pharmaceuticals in a research report on Friday, February 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Monday, December 29th. JPMorgan Chase & Co. increased their target price on Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, March 9th. Finally, Barclays raised their price target on Syndax Pharmaceuticals from $22.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Syndax Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.10.

Insider Activity at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 17,159 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Monday, February 9th. The shares were 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 directly owned 491,690 shares of the company’s stock, valued at approximately $10,340,240.70. The trade was a 3.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Keith A. Goldan sold 3,410 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $21.03, for a total value of $71,712.30. Following the completion of the transaction, the chief financial officer owned 140,429 shares of the company’s stock, valued at $2,953,221.87. This trade represents a 2.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,063 shares of company stock valued at $628,332 over the last ninety days. 4.10% of the stock is owned by corporate insiders.

Syndax Pharmaceuticals Price Performance

Syndax Pharmaceuticals stock opened at $23.50 on Friday. The stock has a market capitalization of $2.07 billion, a P/E ratio of -7.14 and a beta of 0.42. Syndax Pharmaceuticals, Inc. has a 12-month low of $8.58 and a 12-month high of $25.16. The company has a debt-to-equity ratio of 5.32, a current ratio of 4.40 and a quick ratio of 4.12. The firm’s 50-day moving average is $21.18 and its two-hundred day moving average is $18.53.

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 during the quarter, compared to analyst estimates of $64.75 million. Syndax Pharmaceuticals had a negative net margin of 165.37% and a negative return on equity of 206.62%. The business’s quarterly revenue was up 792.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.10) EPS. Equities analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current 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.