The Manufacturers Life Insurance Company Makes New Investment in Syndax Pharmaceuticals, Inc. $SNDX

The Manufacturers Life Insurance Company bought a new position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 44,305 shares of the company’s stock, valued at approximately $969,000. The Manufacturers Life Insurance Company owned about 0.05% of Syndax Pharmaceuticals at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC grew 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 purchasing an additional 312,231 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 valued at $705,000 after purchasing an additional 3,094 shares during the last quarter. Caxton Associates LLP acquired a new stake in Syndax Pharmaceuticals in the first quarter valued at approximately $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted 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 buying an additional 30,596 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Syndax Pharmaceuticals by 4.9% during the second quarter. Legal & General Group Plc now owns 84,575 shares of the company’s stock worth $792,000 after buying an additional 3,937 shares during the last quarter.

Insider Transactions at Syndax Pharmaceuticals

In related news, CMO Nicholas Botwood sold 34,280 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $18.00, for a total value of $617,040.00. Following the transaction, the chief marketing officer directly owned 60,885 shares of the company’s stock, valued at $1,095,930. The trade was a 36.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Metzger sold 32,375 shares of the company’s 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. The trade was a 6.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 97,890 shares of company stock valued at $1,968,413 over the last 90 days. 4.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on SNDX shares. HC Wainwright dropped their price target on Syndax Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Weiss Ratings upgraded Syndax Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Bank of America reaffirmed a “buy” rating on shares of Syndax Pharmaceuticals in a report on Wednesday, August 5th. UBS Group dropped their target price on Syndax Pharmaceuticals from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, August 21st. Finally, JPMorgan Chase & Co. dropped their target price on Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.30.

Syndax Pharmaceuticals Price Performance

SNDX stock opened at $20.56 on Friday. The company has a fifty day moving average price of $20.96 and a 200-day moving average price of $21.25. The company has a market capitalization of $1.82 billion, a P/E ratio of -8.19 and a beta of 0.37. Syndax Pharmaceuticals, Inc. has a 52-week low of $12.99 and a 52-week high of $25.59. The company has a debt-to-equity ratio of 38.95, a quick ratio of 6.44 and a current ratio of 6.77.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.10). The business had revenue of $72.79 million for the quarter, compared to analyst estimates of $79.36 million. Syndax Pharmaceuticals had a negative return on equity of 372.94% and a negative net margin of 87.52%.Syndax Pharmaceuticals’s revenue for the quarter was up 91.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.83) EPS. As a group, equities analysts expect that Syndax Pharmaceuticals, Inc. will post -2.01 EPS for the current 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.