Hennion & Walsh Asset Management Inc. Grows Stake in Syndax Pharmaceuticals, Inc. $SNDX

Hennion & Walsh Asset Management Inc. grew its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 236.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 183,802 shares of the company’s stock after purchasing an additional 129,104 shares during the quarter. Hennion & Walsh Asset Management Inc. owned 0.21% of Syndax Pharmaceuticals worth $3,862,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of SNDX. AQR Capital Management LLC raised its holdings in shares of Syndax Pharmaceuticals by 478.8% during the 1st quarter. AQR Capital Management LLC now owns 377,444 shares of the company’s stock valued at $4,637,000 after buying an additional 312,231 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Syndax Pharmaceuticals by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,842 shares of the company’s stock worth $705,000 after acquiring an additional 3,094 shares during the period. Caxton Associates LLP purchased a new position in Syndax Pharmaceuticals in the 1st quarter worth approximately $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Syndax Pharmaceuticals by 18.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 200,696 shares of the company’s stock valued at $2,466,000 after acquiring an additional 30,596 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Syndax Pharmaceuticals by 1.3% during the second quarter. Geode Capital Management LLC now owns 2,049,350 shares of the company’s stock valued at $19,195,000 after purchasing an additional 26,365 shares during the period.

Insider Buying and Selling at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CFO Keith A. Goldan sold 3,410 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $21.03, for a total transaction of $71,712.30. Following the completion of the transaction, the chief financial officer directly owned 140,429 shares of the company’s stock, valued at $2,953,221.87. This trade represents a 2.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael A. Metzger sold 17,159 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $21.03, for a total transaction of $360,853.77. Following the completion of the sale, the chief executive officer owned 491,690 shares in the company, valued at approximately $10,340,240.70. This trade represents a 3.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 30,063 shares of company stock valued at $628,332. 4.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on SNDX. BTIG Research reissued a “buy” rating and set a $56.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 9th. Stifel Nicolaus set a $45.00 price target on shares of Syndax Pharmaceuticals in a report on Friday, February 27th. Citigroup lifted their price target 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. upped their price objective 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Syndax Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $39.18.

Syndax Pharmaceuticals Stock Performance

Syndax Pharmaceuticals stock opened at $22.48 on Tuesday. The stock has a market cap of $1.98 billion, a P/E ratio of -6.83 and a beta of 0.42. The company has a current ratio of 4.40, a quick ratio of 4.12 and a debt-to-equity ratio of 5.32. The stock has a 50 day moving average of $21.85 and a 200-day moving average of $19.15. Syndax Pharmaceuticals, Inc. has a 52 week low of $8.58 and a 52 week high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.14). The company had revenue of $68.73 million during the quarter, compared to the consensus estimate of $64.75 million. Syndax Pharmaceuticals had a negative return on equity of 206.62% and a negative net margin of 165.37%.The firm’s quarterly revenue was up 792.6% on a year-over-year basis. During the same quarter last year, the firm posted ($1.10) EPS. On average, analysts expect that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

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.