Hsbc Holdings PLC Lowers Stock Holdings in Syndax Pharmaceuticals, Inc. $SNDX

Hsbc Holdings PLC reduced its holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 59.8% during the 4th quarter, Holdings Channel reports. The firm owned 22,731 shares of the company’s stock after selling 33,793 shares during the quarter. Hsbc Holdings PLC’s holdings in Syndax Pharmaceuticals were worth $482,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Elmind Capital LP purchased a new stake in shares of Syndax Pharmaceuticals in the fourth quarter valued at approximately $38,974,000. Vanguard Group Inc. lifted its position in shares of Syndax Pharmaceuticals by 21.2% during the 4th quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock valued at $130,899,000 after buying an additional 1,091,717 shares in the last quarter. Bank of America Corp DE grew its stake in Syndax Pharmaceuticals by 33.7% in the 2nd quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock valued at $35,951,000 after acquiring an additional 967,873 shares during the period. Qube Research & Technologies Ltd grew its stake in Syndax Pharmaceuticals by 99.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,665,916 shares of the company’s stock valued at $15,601,000 after acquiring an additional 831,067 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its holdings in Syndax Pharmaceuticals by 126.8% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,432,440 shares of the company’s stock worth $13,415,000 after acquiring an additional 800,800 shares in the last quarter.

Analyst Ratings Changes

SNDX has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their price objective on shares of Syndax Pharmaceuticals from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, April 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Wednesday, June 24th. 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 note on Friday, May 1st. Jefferies Financial Group restated a “buy” rating and set a $40.00 price target (down from $48.00) on shares of Syndax Pharmaceuticals in a research report on Monday, March 30th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of Syndax Pharmaceuticals in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Syndax Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $42.55.

Insider Transactions at Syndax Pharmaceuticals

In related news, CEO Michael A. Metzger sold 32,375 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $11,752,594.32. The trade was a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Nicholas A.J. Botwood sold 31,235 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $18.14, for a total transaction of $566,602.90. Following the sale, the chief marketing officer directly owned 60,885 shares of the company’s stock, valued at approximately $1,104,453.90. This represents a 33.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 105,914 shares of company stock valued at $2,120,789 over the last quarter. Company insiders own 4.80% of the company’s stock.

Syndax Pharmaceuticals Stock Down 3.4%

NASDAQ SNDX opened at $22.71 on Friday. The business has a fifty day moving average price of $20.31 and a 200 day moving average price of $21.41. Syndax Pharmaceuticals, Inc. has a one year low of $9.16 and a one year high of $25.59. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.06 and a current ratio of 5.47. The company has a market cap of $2.01 billion, a P/E ratio of -8.14 and a beta of 0.37.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings data on Thursday, April 30th. The company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.11. Syndax Pharmaceuticals had a negative return on equity of 256.65% and a negative net margin of 111.88%.The company had revenue of $64.86 million for the quarter, compared to analyst estimates of $69.76 million. During the same quarter last year, the firm posted ($0.98) EPS. The firm’s revenue for the quarter was up 224.3% on a year-over-year basis. Research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -1.65 EPS for the current fiscal 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.