Syndax Pharmaceuticals, Inc. $SNDX Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 99.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,962 shares of the company’s stock after selling 4,198,493 shares during the period. Wellington Management Group LLP’s holdings in Syndax Pharmaceuticals were worth $442,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Soleus Capital Management L.P. raised its position in shares of Syndax Pharmaceuticals by 128.4% in the fourth quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company’s stock worth $32,944,000 after acquiring an additional 1,401,016 shares during the period. Sphera Funds Management LTD. raised its position in shares of Syndax Pharmaceuticals by 33.5% in the fourth quarter. Sphera Funds Management LTD. now owns 1,381,241 shares of the company’s stock worth $18,260,000 after acquiring an additional 346,395 shares during the period. Granahan Investment Management LLC raised its position in shares of Syndax Pharmaceuticals by 36.2% in the fourth quarter. Granahan Investment Management LLC now owns 905,322 shares of the company’s stock worth $11,968,000 after acquiring an additional 240,557 shares during the period. Octagon Capital Advisors LP acquired a new position in shares of Syndax Pharmaceuticals in the fourth quarter worth about $11,951,000. Finally, Algert Global LLC raised its position in shares of Syndax Pharmaceuticals by 12.6% in the first quarter. Algert Global LLC now owns 884,600 shares of the company’s stock worth $10,867,000 after acquiring an additional 98,968 shares during the period.

Insider Activity

In related news, CEO Michael A. Metzger sold 7,534 shares of the company’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $9.29, for a total transaction of $69,990.86. Following the completion of the sale, the chief executive officer owned 298,661 shares of the company’s stock, valued at approximately $2,774,560.69. This represents a 2.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dennis Podlesak sold 19,200 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $15.84, for a total transaction of $304,128.00. Following the sale, the director directly owned 191,763 shares of the company’s stock, valued at approximately $3,037,525.92. This represents a 9.10% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,230 shares of company stock valued at $684,527. 4.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SNDX. UBS Group decreased their price objective on shares of Syndax Pharmaceuticals from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, July 15th. Scotiabank boosted their target price on shares of Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 6th. Citigroup boosted their target price on shares of Syndax Pharmaceuticals from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. B. Riley raised shares of Syndax Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, August 6th. Finally, Guggenheim reissued a “buy” rating and set a $32.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Syndax Pharmaceuticals has a consensus rating of “Buy” and an average price target of $38.00.

Syndax Pharmaceuticals Stock Up 0.1%

Shares of NASDAQ SNDX opened at $16.33 on Tuesday. Syndax Pharmaceuticals, Inc. has a 12-month low of $8.58 and a 12-month high of $22.50. The stock has a market cap of $1.41 billion, a PE ratio of -4.20 and a beta of 0.72. The company has a current ratio of 4.71, a quick ratio of 4.55 and a debt-to-equity ratio of 2.06. The company has a 50-day moving average of $11.63 and a 200 day moving average of $11.95.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings data on Monday, August 4th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.01) by $0.18. Syndax Pharmaceuticals had a negative net margin of 428.48% and a negative return on equity of 130.47%. The company had revenue of $37.96 million during the quarter, compared to analysts’ expectations of $26.64 million. During the same quarter in the prior year, the company earned ($0.80) EPS. Syndax Pharmaceuticals’s revenue was up 984.5% compared to the same quarter last year. As a group, sell-side analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Syndax Pharmaceuticals Company Profile

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).