Rhenman & Partners Asset Management AB Trims Stake in Syndax Pharmaceuticals, Inc. $SNDX

Rhenman & Partners Asset Management AB reduced its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 15.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 487,000 shares of the company’s stock after selling 87,000 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in Syndax Pharmaceuticals were worth $10,232,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in SNDX. Larson Financial Group LLC boosted its position in shares of 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 bought a new stake in shares of Syndax Pharmaceuticals in the 3rd quarter worth approximately $53,000. Lazard Asset Management LLC bought a new stake in shares of Syndax Pharmaceuticals in the 2nd quarter worth approximately $66,000. Tower Research Capital LLC TRC boosted its position in shares of Syndax Pharmaceuticals by 103.3% in 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. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Syndax Pharmaceuticals by 26.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock worth $89,000 after purchasing an additional 893 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Jefferies Financial Group reissued a “buy” rating and issued a $40.00 price target (down from $48.00) on shares of Syndax Pharmaceuticals in a research report on Monday, March 30th. Stifel Nicolaus set a $45.00 price target on Syndax Pharmaceuticals in a research report on Friday, February 27th. Wall Street Zen raised Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. 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 research report on Monday, March 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.55.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX opened at $18.25 on Friday. The business’s fifty day simple moving average is $21.06 and its two-hundred day simple moving average is $21.22. The company has a current ratio of 5.47, a quick ratio of 5.06 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 cap of $1.62 billion, a price-to-earnings ratio of -6.54 and a beta of 0.38.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its earnings results on Thursday, April 30th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate 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 business 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 business posted ($0.98) EPS. The company’s revenue was up 224.3% compared to the same quarter last year. Research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -1.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 6,847 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $18.99, for a total transaction of $130,024.53. Following the sale, the chief executive officer directly owned 484,843 shares in the company, valued at approximately $9,207,168.57. This trade represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $18.14, for a total value of $566,602.90. Following the transaction, the chief marketing officer directly owned 60,885 shares in the company, valued at $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 have sold 73,539 shares of company stock worth $1,336,019. Company insiders own 4.10% of the company’s stock.

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.