Legal & General Group Plc Makes New Investment in Syndax Pharmaceuticals, Inc. $SNDX

Legal & General Group Plc purchased a new stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 65,483 shares of the company’s stock, valued at approximately $1,431,000.

A number of other institutional investors have also made changes to their positions in the business. Hsbc Holdings PLC grew its position in Syndax Pharmaceuticals by 3.2% in the first quarter. Hsbc Holdings PLC now owns 23,461 shares of the company’s stock valued at $556,000 after purchasing an additional 730 shares in the last quarter. Allworth Financial LP bought a new position in shares of Syndax Pharmaceuticals in the 2nd quarter valued at about $26,000. Schroder Investment Management Group grew its holdings in shares of Syndax Pharmaceuticals by 1.0% in the 3rd quarter. Schroder Investment Management Group now owns 123,404 shares of the company’s stock valued at $1,920,000 after acquiring an additional 1,241 shares in the last quarter. Verition Fund Management LLC increased its position in shares of Syndax Pharmaceuticals by 7.5% in the fourth quarter. Verition Fund Management LLC now owns 18,460 shares of the company’s stock valued at $388,000 after acquiring an additional 1,281 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Syndax Pharmaceuticals by 8.7% in the fourth quarter. HighTower Advisors LLC now owns 18,940 shares of the company’s stock valued at $398,000 after acquiring an additional 1,517 shares during the last quarter.

Insiders Place Their Bets

In other Syndax Pharmaceuticals news, CEO Michael Metzger sold 32,375 shares of Syndax Pharmaceuticals stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $24.24, for a total transaction of $784,770.00. Following the completion of the transaction, the chief executive officer directly owned 484,843 shares of the company’s stock, valued at $11,752,594.32. The trade was a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Nicholas Botwood sold 34,280 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $18.00, for a total transaction of $617,040.00. Following the completion of the transaction, the chief marketing officer owned 60,885 shares in the company, valued at approximately $1,095,930. This represents a 36.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 97,890 shares of company stock valued at $1,968,413. Company insiders own 4.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SNDX shares. JPMorgan Chase & Co. reduced their price target on Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. UBS Group dropped their price objective on Syndax Pharmaceuticals from $37.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, August 21st. HC Wainwright decreased their target price on shares of Syndax Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Syndax Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Finally, Bank of America reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Wednesday, August 5th. Eleven equities 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.30.

Syndax Pharmaceuticals Price Performance

NASDAQ:SNDX opened at $20.56 on Monday. Syndax Pharmaceuticals, Inc. has a 12-month low of $12.99 and a 12-month high of $25.59. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -8.19 and a beta of 0.37. The stock’s 50 day moving average price is $20.96 and its two-hundred day moving average price is $21.25. The company has a quick ratio of 6.44, a current ratio of 6.77 and a debt-to-equity ratio of 38.95.

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