Eversept Partners LP Trims Holdings in Syndax Pharmaceuticals, Inc. $SNDX

Eversept Partners LP reduced its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 4.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,314,408 shares of the company’s stock after selling 152,906 shares during the period. Syndax Pharmaceuticals makes up approximately 3.5% of Eversept Partners LP’s holdings, making the stock its 6th biggest holding. Eversept Partners LP’s holdings in Syndax Pharmaceuticals were worth $69,636,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Syndax Pharmaceuticals by 21.2% during the 4th quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock worth $130,899,000 after buying an additional 1,091,717 shares during the period. Goldman Sachs Group Inc. raised its holdings in Syndax Pharmaceuticals by 3.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,695,375 shares of the company’s stock worth $119,660,000 after buying an additional 208,941 shares during the period. State Street Corp raised its holdings in Syndax Pharmaceuticals by 19.3% during the 4th quarter. State Street Corp now owns 4,596,552 shares of the company’s stock worth $96,574,000 after buying an additional 743,003 shares during the period. Bank of America Corp DE raised its holdings in Syndax Pharmaceuticals by 33.7% during the 2nd quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock worth $35,951,000 after buying an additional 967,873 shares during the period. Finally, Kingdon Capital Management L.L.C. raised its holdings in Syndax Pharmaceuticals by 19.0% during the 3rd quarter. Kingdon Capital Management L.L.C. now owns 2,500,000 shares of the company’s stock worth $38,462,000 after buying an additional 400,000 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have commented on SNDX shares. Mizuho dropped their target price on shares of Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Stifel Nicolaus set a $45.00 target price on shares of Syndax Pharmaceuticals in a report on Friday, February 27th. HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Syndax Pharmaceuticals in a report on Friday, June 12th. Jefferies Financial Group restated a “buy” rating and set a $40.00 target price (down from $48.00) on shares of Syndax Pharmaceuticals in a report on Monday, March 30th. Finally, Wall Street Zen upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Syndax Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $42.55.

Insider Buying and Selling

In other news, CEO Michael A. Metzger sold 6,847 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $18.99, for a total value of $130,024.53. Following 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 shares were sold at an average price of $18.14, for a total transaction of $566,602.90. Following the completion of the sale, the chief marketing officer owned 60,885 shares in the company, valued at $1,104,453.90. This trade represents a 33.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 73,539 shares of company stock worth $1,336,019 over the last quarter. 4.80% of the stock is owned by corporate insiders.

Syndax Pharmaceuticals Price Performance

NASDAQ SNDX opened at $19.04 on Thursday. 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 12-month low of $8.59 and a 12-month high of $25.59. The company has a market capitalization of $1.69 billion, a PE ratio of -6.82 and a beta of 0.38. The firm’s 50 day moving average is $20.68 and its 200-day moving average is $21.21.

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