44,305 Shares in Syndax Pharmaceuticals, Inc. $SNDX Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) in the 2nd quarter, Holdings Channel reports. The firm acquired 44,305 shares of the company’s stock, valued at approximately $969,000.

Other institutional investors also recently modified their holdings of the company. Algert Global LLC increased its stake in Syndax Pharmaceuticals by 13.2% in the second quarter. Algert Global LLC now owns 1,051,465 shares of the company’s stock valued at $22,985,000 after purchasing an additional 122,897 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Syndax Pharmaceuticals during the 2nd quarter worth about $894,000. Ieq Capital LLC acquired a new stake in shares of Syndax Pharmaceuticals in the 2nd quarter valued at about $1,199,000. Allworth Financial LP acquired a new stake in shares of Syndax Pharmaceuticals in the 2nd quarter valued at about $26,000. Finally, E Fund Management Co. Ltd. bought a new stake in Syndax Pharmaceuticals in the 2nd quarter valued at about $301,000.

Insider Activity at Syndax Pharmaceuticals

In related news, CMO Nicholas Botwood sold 31,235 shares of the company’s stock in a transaction on Friday, June 12th. The stock was 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 approximately $1,104,453.90. This represents a 33.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael A. Metzger sold 32,375 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $24.24, for a total value of $784,770.00. Following 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 position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 97,890 shares of company stock valued at $1,968,413. Company insiders own 4.80% of the company’s stock.

Syndax Pharmaceuticals Trading Down 0.6%

NASDAQ:SNDX opened at $20.56 on Friday. The company has a debt-to-equity ratio of 38.95, a current ratio of 6.77 and a quick ratio of 6.44. Syndax Pharmaceuticals, Inc. has a one year low of $12.99 and a one year high of $25.59. The company has a market cap of $1.82 billion, a PE ratio of -8.19 and a beta of 0.37. The firm has a 50-day moving average of $20.96 and a 200-day moving average of $21.25.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.10). The business had revenue of $72.79 million during the quarter, compared to the consensus estimate of $79.36 million. Syndax Pharmaceuticals had a negative net margin of 87.52% and a negative return on equity of 372.94%. Syndax Pharmaceuticals’s revenue was up 91.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.83) EPS. As a group, equities research analysts expect that Syndax Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SNDX has been the topic of a number of research reports. HC Wainwright dropped their price target on Syndax Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Bank of America reissued a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Wednesday, August 5th. Weiss Ratings raised Syndax Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. UBS Group lowered their target price on Syndax Pharmaceuticals from $37.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, August 21st. Finally, JPMorgan Chase & Co. cut their target price on Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Syndax Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $42.30.

Syndax Pharmaceuticals 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.