Orbimed Advisors LLC Invests $22.48 Million in Syndax Pharmaceuticals, Inc. $SNDX

Orbimed Advisors LLC bought a new stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 962,300 shares of the company’s stock, valued at approximately $22,479,000. Orbimed Advisors LLC owned about 1.09% of Syndax Pharmaceuticals as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Palumbo Wealth Management LLC purchased a new stake in Syndax Pharmaceuticals during the fourth quarter valued at about $1,079,000. Torray Investment Partners LLC acquired a new position in shares of Syndax Pharmaceuticals in the fourth quarter worth about $2,055,000. SG Americas Securities LLC increased its position in shares of Syndax Pharmaceuticals by 184.5% in the fourth quarter. SG Americas Securities LLC now owns 129,227 shares of the company’s stock worth $2,715,000 after acquiring an additional 83,801 shares in the last quarter. Eventide Asset Management LLC increased its position in shares of Syndax Pharmaceuticals by 25.3% in the fourth quarter. Eventide Asset Management LLC now owns 1,238,196 shares of the company’s stock worth $26,014,000 after acquiring an additional 249,710 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of Syndax Pharmaceuticals by 236.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 183,802 shares of the company’s stock valued at $3,862,000 after acquiring an additional 129,104 shares during the period.

Syndax Pharmaceuticals Price Performance

Shares of SNDX opened at $20.81 on Monday. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -7.46 and a beta of 0.37. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $9.42 and a fifty-two week high of $25.59. 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 business’s 50-day moving average is $20.45 and its 200-day moving average is $21.46.

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

Insider Activity at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 32,375 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $24.24, for a total value of $784,770.00. Following the completion of the sale, the chief executive officer owned 484,843 shares in the company, valued at $11,752,594.32. This represents a 6.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Nicholas A.J. Botwood sold 34,280 shares of Syndax Pharmaceuticals stock in a transaction on Thursday, June 11th. The shares were 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 of the company’s stock, valued at $1,095,930. This trade represents a 36.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 105,914 shares of company stock worth $2,120,789. Company insiders own 4.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SNDX shares. Barclays raised their price objective on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Mizuho cut their target price on shares of Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. The Goldman Sachs Group boosted 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. Jefferies Financial Group restated a “buy” rating and issued a $40.00 target price (down from $48.00) on shares of Syndax Pharmaceuticals in a report on Monday, March 30th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $40.00 target price on shares of Syndax Pharmaceuticals in a research report on Wednesday, July 15th. 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.