Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Shares Sold by Swiss National Bank

Swiss National Bank cut its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 10.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 115,700 shares of the company’s stock after selling 13,700 shares during the quarter. Swiss National Bank owned about 0.17% of Syndax Pharmaceuticals worth $2,444,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SNDX. JPMorgan Chase & Co. increased its stake in shares of Syndax Pharmaceuticals by 40.7% in the 1st quarter. JPMorgan Chase & Co. now owns 239,829 shares of the company’s stock worth $4,168,000 after acquiring an additional 69,356 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Syndax Pharmaceuticals by 5.9% during the 1st quarter. Bank of New York Mellon Corp now owns 176,391 shares of the company’s stock worth $3,066,000 after purchasing an additional 9,819 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Syndax Pharmaceuticals by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 27,029 shares of the company’s stock worth $470,000 after purchasing an additional 9,976 shares during the last quarter. Rhumbline Advisers increased its position in shares of Syndax Pharmaceuticals by 2.7% during the 1st quarter. Rhumbline Advisers now owns 58,239 shares of the company’s stock worth $1,012,000 after purchasing an additional 1,516 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Syndax Pharmaceuticals by 2.9% during the 1st quarter. BlackRock Inc. now owns 3,798,150 shares of the company’s stock worth $66,011,000 after purchasing an additional 108,256 shares during the last quarter.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX opened at $18.97 on Wednesday. The stock has a 50-day simple moving average of $19.90 and a 200-day simple moving average of $20.99. The stock has a market capitalization of $1.32 billion, a PE ratio of -7.81 and a beta of 1.13. Syndax Pharmaceuticals, Inc. has a 1 year low of $17.62 and a 1 year high of $29.86.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings data on Thursday, August 3rd. The company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.09. During the same period in the previous year, the firm posted ($0.62) earnings per share. Analysts predict that Syndax Pharmaceuticals, Inc. will post -2.94 EPS for the current year.

Insider Activity

In related news, Director Briggs Morrison sold 52,855 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $20.40, for a total transaction of $1,078,242.00. Following the completion of the sale, the director now owns 17,836 shares in the company, valued at $363,854.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director William Meury sold 83,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $20.46, for a total transaction of $1,698,180.00. Following the completion of the sale, the director now owns 48,000 shares in the company, valued at $982,080. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Briggs Morrison sold 52,855 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $20.40, for a total value of $1,078,242.00. Following the sale, the director now owns 17,836 shares of the company’s stock, valued at approximately $363,854.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 242,142 shares of company stock worth $4,874,425. 4.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SNDX has been the subject of a number of recent analyst reports. Scotiabank initiated coverage on Syndax Pharmaceuticals in a research report on Thursday, July 27th. They set an “outperform” rating for the company. Barclays raised their price objective on Syndax Pharmaceuticals from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 26th. Citigroup raised their price objective on Syndax Pharmaceuticals from $31.00 to $34.00 in a research report on Wednesday, July 26th. HC Wainwright reissued a “buy” rating and set a $38.00 price objective on shares of Syndax Pharmaceuticals in a research report on Friday, August 4th. Finally, Guggenheim lifted their target price on Syndax Pharmaceuticals from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Syndax Pharmaceuticals Profile

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are SNDX-5613, which is in phase 1/2 clinical trial targeting the binding interaction of Menin with the mixed lineage leukemia 1 for the treatment of KMT2A rearranged (KMT2Ar) and nucleophosmin 1 mutant acute myeloid leukemia (NPM1); and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD).