Hsbc Holdings PLC Sells 33,793 Shares of Syndax Pharmaceuticals, Inc. $SNDX

Hsbc Holdings PLC lowered its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 59.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,731 shares of the company’s stock after selling 33,793 shares during the period. Hsbc Holdings PLC’s holdings in Syndax Pharmaceuticals were worth $482,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Elmind Capital LP bought a new position in shares of Syndax Pharmaceuticals in the 4th quarter worth $38,974,000. Vanguard Group Inc. boosted its position in Syndax Pharmaceuticals by 21.2% during the fourth quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock valued at $130,899,000 after purchasing an additional 1,091,717 shares in the last quarter. Bank of America Corp DE boosted its position in Syndax Pharmaceuticals by 33.7% during the second quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock valued at $35,951,000 after purchasing an additional 967,873 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in Syndax Pharmaceuticals by 99.5% in the second quarter. Qube Research & Technologies Ltd now owns 1,665,916 shares of the company’s stock valued at $15,601,000 after purchasing an additional 831,067 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in Syndax Pharmaceuticals by 126.8% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,432,440 shares of the company’s stock valued at $13,415,000 after purchasing an additional 800,800 shares during the last quarter.

Syndax Pharmaceuticals Stock Down 3.4%

Shares of SNDX stock opened at $22.71 on Friday. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $9.16 and a fifty-two week high of $25.59. The firm has a market capitalization of $2.01 billion, a PE ratio of -8.14 and a beta of 0.37. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.06 and a current ratio of 5.47. The stock’s 50-day simple moving average is $20.31 and its 200-day simple moving average is $21.41.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Thursday, April 30th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.11. The firm had revenue of $64.86 million during the quarter, compared to the consensus estimate of $69.76 million. Syndax Pharmaceuticals had a negative return on equity of 256.65% and a negative net margin of 111.88%.The company’s revenue was up 224.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.98) earnings per share. Equities analysts expect that Syndax Pharmaceuticals, Inc. will post -1.65 earnings per share for the current year.

Insider Activity at Syndax Pharmaceuticals

In related news, CEO Michael A. Metzger sold 32,375 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $11,752,594.32. This represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CMO Nicholas A.J. Botwood sold 31,235 shares of Syndax Pharmaceuticals stock in a transaction on Friday, June 12th. The shares were sold at an average price of $18.14, for a total transaction of $566,602.90. Following the completion of the transaction, the chief marketing officer directly owned 60,885 shares of the company’s stock, valued at $1,104,453.90. The trade was a 33.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 105,914 shares of company stock worth $2,120,789. Insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. HC Wainwright reissued a “buy” rating and set a $40.00 price target on shares of Syndax Pharmaceuticals in a research report on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $40.00 price objective (down from $48.00) on shares of Syndax Pharmaceuticals in a research report on Monday, March 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Wednesday, June 24th. UBS Group reissued a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Friday, June 12th. Finally, The Goldman Sachs Group raised their target price on shares of Syndax Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. One equities 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 stock. According to MarketBeat.com, Syndax Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average 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.