Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 9.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,674 shares of the company’s stock after selling 2,095 shares during the period. Teacher Retirement System of Texas’ holdings in Syndax Pharmaceuticals were worth $254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Syndax Pharmaceuticals in the 1st quarter valued at $162,000. Rhumbline Advisers lifted its stake in shares of Syndax Pharmaceuticals by 6.5% in the 1st quarter. Rhumbline Advisers now owns 120,810 shares of the company’s stock valued at $1,484,000 after purchasing an additional 7,361 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new position in shares of Syndax Pharmaceuticals in the 4th quarter valued at $1,124,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Syndax Pharmaceuticals by 23.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 170,100 shares of the company’s stock valued at $2,249,000 after purchasing an additional 32,653 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in shares of Syndax Pharmaceuticals in the 4th quarter valued at $1,045,000.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ:SNDX opened at $9.46 on Friday. The company has a market cap of $814.03 million, a P/E ratio of -2.45 and a beta of 0.70. The company has a quick ratio of 5.75, a current ratio of 5.80 and a debt-to-equity ratio of 1.53. Syndax Pharmaceuticals, Inc. has a 52 week low of $8.58 and a 52 week high of $25.07. The business has a fifty day simple moving average of $9.88 and a 200-day simple moving average of $12.18.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.06. The business had revenue of $20.04 million for the quarter, compared to analysts’ expectations of $15.88 million. Syndax Pharmaceuticals had a negative return on equity of 101.60% and a negative net margin of 757.53%. The company’s revenue was up 1900.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.85) earnings per share. Equities research analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on SNDX. The Goldman Sachs Group began coverage on Syndax Pharmaceuticals in a report on Thursday, July 10th. They issued a “buy” rating and a $18.00 price objective on the stock. Guggenheim reiterated a “buy” rating and issued a $32.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th. UBS Group dropped their price objective on Syndax Pharmaceuticals from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, July 15th. Scotiabank increased their price objective on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a “sector perform” rating in a report on Tuesday, May 6th. Finally, Wall Street Zen upgraded Syndax Pharmaceuticals to a “sell” rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.10.

Insider Activity

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 7,534 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $9.29, for a total transaction of $69,990.86. Following the transaction, the chief executive officer directly owned 298,661 shares in the company, valued at $2,774,560.69. This trade represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.10% of the company’s stock.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; 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) and idiopathic pulmonary fibrosis (IPF).