Granahan Investment Management LLC Has $7.71 Million Stake in Syndax Pharmaceuticals, Inc. $SNDX

Granahan Investment Management LLC decreased its holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 7.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 366,793 shares of the company’s stock after selling 29,543 shares during the quarter. Granahan Investment Management LLC owned 0.42% of Syndax Pharmaceuticals worth $7,706,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SNDX. Larson Financial Group LLC raised its stake in Syndax Pharmaceuticals by 192.2% in the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock worth $45,000 after purchasing an additional 1,922 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Syndax Pharmaceuticals during the 3rd quarter worth $53,000. Smartleaf Asset Management LLC grew its holdings in shares of Syndax Pharmaceuticals by 2,698.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock worth $55,000 after purchasing an additional 2,564 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Syndax Pharmaceuticals during the 2nd quarter worth $66,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Syndax Pharmaceuticals by 103.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock worth $79,000 after purchasing an additional 4,308 shares in the last quarter.

Insider Activity

In related news, CMO Nicholas A.J. Botwood sold 31,235 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $18.14, for a total value of $566,602.90. Following the sale, the chief marketing officer directly owned 60,885 shares of the company’s stock, valued at $1,104,453.90. This trade represents a 33.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael A. Metzger sold 6,847 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $18.99, for a total value of $130,024.53. Following the completion of the sale, the chief executive officer directly owned 484,843 shares in the company, valued at $9,207,168.57. This trade represents a 1.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 73,539 shares of company stock worth $1,336,019 over the last ninety days. 4.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SNDX shares. HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of Syndax Pharmaceuticals in a report on Friday, June 12th. The Goldman Sachs Group increased their target price on Syndax Pharmaceuticals from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. UBS Group reissued a “buy” rating on shares of Syndax Pharmaceuticals in a report on Friday. Wall Street Zen raised Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Mizuho reduced their target price on Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. One 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 presently has an average rating of “Moderate Buy” and a consensus target price of $42.55.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX opened at $18.55 on Wednesday. The stock’s 50-day simple moving average is $20.79 and its 200 day simple moving average is $21.22. The firm has a market capitalization of $1.64 billion, a PE ratio of -6.65 and a beta of 0.38. The company has a quick ratio of 5.06, a current ratio of 5.47 and a debt-to-equity ratio of 8.26. Syndax Pharmaceuticals, Inc. has a twelve month low of $8.59 and a twelve month high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.11. The business had revenue of $64.86 million for the quarter, compared to analyst estimates of $69.76 million. Syndax Pharmaceuticals had a negative return on equity of 256.65% and a negative net margin of 111.88%.Syndax Pharmaceuticals’s revenue was up 224.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.98) earnings per share. On average, analysts anticipate that Syndax Pharmaceuticals, Inc. will post -1.66 EPS for the current fiscal 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.