Syndax Pharmaceuticals, Inc. $SNDX Stake Lessened by Inspire Investing LLC

Inspire Investing LLC lowered its holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 9.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,898 shares of the company’s stock after selling 2,894 shares during the period. Inspire Investing LLC’s holdings in Syndax Pharmaceuticals were worth $343,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Exome Asset Management LLC raised its holdings in shares of Syndax Pharmaceuticals by 5.7% during the first quarter. Exome Asset Management LLC now owns 337,198 shares of the company’s stock worth $4,142,000 after acquiring an additional 18,298 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of Syndax Pharmaceuticals during the fourth quarter worth $1,124,000. Deutsche Bank AG raised its holdings in shares of Syndax Pharmaceuticals by 127.7% during the first quarter. Deutsche Bank AG now owns 204,732 shares of the company’s stock worth $2,516,000 after acquiring an additional 114,828 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Syndax Pharmaceuticals during the first quarter worth $783,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Syndax Pharmaceuticals during the first quarter worth $297,000.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SNDX shares. Stifel Nicolaus started coverage on Syndax Pharmaceuticals in a report on Wednesday, September 10th. They set a “buy” rating and a $44.00 price objective for the company. Citigroup increased their price objective on Syndax Pharmaceuticals from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. The Goldman Sachs Group increased their price objective on Syndax Pharmaceuticals from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 5th. UBS Group cut their price objective on Syndax Pharmaceuticals from $37.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, July 15th. Finally, B. Riley upgraded Syndax Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $39.22.

Insider Activity

In other news, CEO Michael A. Metzger sold 157,307 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $16.41, for a total value of $2,581,407.87. Following the sale, the chief executive officer directly owned 298,661 shares of the company’s stock, valued at approximately $4,901,027.01. This trade represents a 34.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dennis Podlesak sold 19,200 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $15.84, for a total value of $304,128.00. Following the completion of the sale, the director directly owned 191,763 shares in the company, valued at approximately $3,037,525.92. This represents a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 204,537 shares of company stock worth $3,265,935. 4.10% of the stock is currently owned by company insiders.

Syndax Pharmaceuticals Price Performance

NASDAQ SNDX opened at $15.04 on Wednesday. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $8.58 and a fifty-two week high of $22.50. The stock’s 50-day moving average is $13.17 and its two-hundred day moving average is $12.02. The company has a debt-to-equity ratio of 2.06, a current ratio of 4.71 and a quick ratio of 4.55. The firm has a market cap of $1.30 billion, a P/E ratio of -3.87 and a beta of 0.72.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results 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. The company had revenue of $37.96 million for the quarter, compared to the consensus estimate of $26.64 million. Syndax Pharmaceuticals had a negative return on equity of 130.47% and a negative net margin of 428.48%.The firm’s revenue was up 984.5% compared to the same quarter last year. During the same period last year, the business posted ($0.80) earnings per share. On average, analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share 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).