Granahan Investment Management LLC Sells 29,543 Shares of Syndax Pharmaceuticals, Inc. $SNDX

Granahan Investment Management LLC reduced its position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 7.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 366,793 shares of the company’s stock after selling 29,543 shares during the period. Granahan Investment Management LLC’s holdings in Syndax Pharmaceuticals were worth $7,706,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNDX. AQR Capital Management LLC grew its holdings in shares of Syndax Pharmaceuticals by 478.8% during the first quarter. AQR Capital Management LLC now owns 377,444 shares of the company’s stock worth $4,637,000 after purchasing an additional 312,231 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Syndax Pharmaceuticals by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,842 shares of the company’s stock worth $705,000 after purchasing an additional 3,094 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Syndax Pharmaceuticals during the first quarter worth about $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Syndax Pharmaceuticals by 18.0% during 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 worth $2,466,000 after purchasing an additional 30,596 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings 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 purchasing an additional 3,937 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Syndax Pharmaceuticals from $33.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, March 9th. Stifel Nicolaus set a $45.00 price objective on Syndax Pharmaceuticals in a research note on Friday, February 27th. Wall Street Zen raised Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Barclays lifted their price objective on Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Citigroup lifted their price objective on Syndax Pharmaceuticals from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.55.

Syndax Pharmaceuticals Stock Up 0.4%

Shares of Syndax Pharmaceuticals stock opened at $18.55 on Wednesday. Syndax Pharmaceuticals, Inc. has a one year low of $8.59 and a one year 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 stock’s 50-day moving average is $20.79 and its 200 day moving average is $21.22. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -6.65 and a beta of 0.38.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.11. The business 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 firm’s revenue for the quarter was up 224.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.98) earnings per share. Equities research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -1.66 EPS for the current year.

Insider Buying and Selling

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 6,847 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Monday, June 1st. The stock was 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 approximately $9,207,168.57. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CMO Nicholas A.J. Botwood sold 31,235 shares of Syndax Pharmaceuticals 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 completion of the sale, the chief marketing officer owned 60,885 shares of the company’s stock, valued at approximately $1,104,453.90. The trade was a 33.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 73,539 shares of company stock valued at $1,336,019. 4.80% of the stock is currently owned by corporate insiders.

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.