Sei Investments Co. Raises Stock Position in Syndax Pharmaceuticals, Inc. $SNDX

Sei Investments Co. boosted its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 36.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 217,600 shares of the company’s stock after acquiring an additional 57,962 shares during the period. Sei Investments Co.’s holdings in Syndax Pharmaceuticals were worth $5,083,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SNDX. Larson Financial Group LLC increased its stake in shares of Syndax Pharmaceuticals by 192.2% during the third 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 acquired a new position in shares of Syndax Pharmaceuticals during the 3rd quarter worth about $53,000. Smartleaf Asset Management LLC lifted its stake in Syndax Pharmaceuticals by 2,698.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock valued at $55,000 after buying an additional 2,564 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Syndax Pharmaceuticals in the 2nd quarter valued at about $66,000. Finally, Tower Research Capital LLC TRC boosted its holdings in 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 buying an additional 4,308 shares during the last quarter.

Insider Activity at Syndax Pharmaceuticals

In other news, CMO Nicholas A.J. Botwood sold 34,280 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $18.00, for a total value of $617,040.00. Following the completion of the sale, the chief marketing officer directly owned 60,885 shares in the company, valued at $1,095,930. This represents a 36.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael A. Metzger sold 32,375 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $24.24, for a total value of $784,770.00. Following the completion of the sale, the chief executive officer owned 484,843 shares of the company’s stock, valued at $11,752,594.32. This trade represents a 6.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 105,914 shares of company stock worth $2,120,789. Insiders own 4.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SNDX. Weiss Ratings cut Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Barclays lifted their price target on Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. UBS Group reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Friday, June 12th. Finally, HC Wainwright restated a “buy” rating and issued a $40.00 price objective on shares of Syndax Pharmaceuticals in a report on Wednesday, July 15th. One 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.55.

Syndax Pharmaceuticals Stock Performance

SNDX opened at $19.08 on Wednesday. Syndax Pharmaceuticals, Inc. has a twelve month low of $11.91 and a twelve month high of $25.59. The firm has a market capitalization of $1.69 billion, a PE ratio of -6.84 and a beta of 0.40. The company has a current ratio of 5.47, a quick ratio of 5.06 and a debt-to-equity ratio of 8.26. The firm’s 50-day moving average price is $20.40 and its 200 day moving average price is $21.38.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.10). The business had revenue of $72.79 million during the quarter, compared to analyst estimates of $79.36 million. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. The firm’s revenue was up 91.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.83) EPS. As a group, sell-side analysts expect 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.