Sei Investments Co. Grows Stake in Syndax Pharmaceuticals, Inc. $SNDX

Sei Investments Co. raised its holdings in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 36.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 217,600 shares of the company’s stock after purchasing an additional 57,962 shares during the period. Sei Investments Co. owned 0.25% of Syndax Pharmaceuticals worth $5,083,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC increased its position in Syndax Pharmaceuticals by 192.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock valued at $45,000 after buying an additional 1,922 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Syndax Pharmaceuticals in the third quarter worth about $53,000. Smartleaf Asset Management LLC grew its stake in shares of Syndax Pharmaceuticals by 2,698.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock worth $55,000 after acquiring an additional 2,564 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Syndax Pharmaceuticals during the second quarter worth about $66,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Syndax Pharmaceuticals by 103.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock valued at $79,000 after acquiring an additional 4,308 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SNDX shares. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Syndax Pharmaceuticals in a research report on Wednesday, July 15th. Barclays boosted their target price on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Weiss Ratings cut shares of Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Finally, UBS Group reaffirmed a “buy” rating on shares of Syndax Pharmaceuticals in a report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.55.

Syndax Pharmaceuticals Price Performance

NASDAQ:SNDX opened at $19.08 on Wednesday. The firm’s fifty day moving average is $20.40 and its two-hundred day moving average is $21.38. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -6.84 and a beta of 0.40. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.06 and a current ratio of 5.47. Syndax Pharmaceuticals, Inc. has a one year low of $11.91 and a one year high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its 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 company had revenue of $72.79 million during the quarter, compared to analysts’ expectations of $79.36 million. Syndax Pharmaceuticals had a negative return on equity of 256.65% and a negative net margin of 111.88%.The firm’s quarterly revenue was up 91.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.83) EPS. Research analysts expect that Syndax Pharmaceuticals, Inc. will post -1.65 EPS for the current year.

Insider Activity at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CMO Nicholas A.J. Botwood sold 31,235 shares of the company’s stock in a transaction that occurred on 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 owned 60,885 shares in the company, valued at approximately $1,104,453.90. This represents a 33.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael A. Metzger sold 32,375 shares of Syndax Pharmaceuticals stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 484,843 shares of the company’s stock, valued at approximately $11,752,594.32. This trade represents a 6.26% decrease in their ownership of the stock. 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.

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.