Algert Global LLC Cuts Position in Syndax Pharmaceuticals, Inc. $SNDX

Algert Global LLC cut its holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 8.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 930,766 shares of the company’s stock after selling 90,514 shares during the period. Algert Global LLC owned about 1.07% of Syndax Pharmaceuticals worth $14,320,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SNDX. Vanguard Group Inc. boosted its position in Syndax Pharmaceuticals by 2.1% in the third quarter. Vanguard Group Inc. now owns 5,138,617 shares of the company’s stock worth $79,058,000 after purchasing an additional 104,683 shares during the last quarter. Bank of America Corp DE increased its position in shares of Syndax Pharmaceuticals by 33.7% during the 2nd quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock valued at $35,951,000 after purchasing an additional 967,873 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Syndax Pharmaceuticals by 1.3% during the 3rd quarter. Franklin Resources Inc. now owns 2,390,561 shares of the company’s stock worth $36,779,000 after purchasing an additional 30,884 shares during the period. Stempoint Capital LP raised its stake in shares of Syndax Pharmaceuticals by 48.4% during the 2nd quarter. Stempoint Capital LP now owns 2,372,634 shares of the company’s stock worth $22,220,000 after purchasing an additional 774,040 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Syndax Pharmaceuticals by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,049,350 shares of the company’s stock worth $19,195,000 after buying an additional 26,365 shares during the last quarter.

Wall Street Analysts Forecast Growth

SNDX has been the subject of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Monday, December 29th. BTIG Research reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 9th. Citigroup boosted their target price on shares of Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Barclays raised their price target on shares of Syndax Pharmaceuticals from $22.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, November 24th. Finally, Wall Street Zen raised shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Syndax Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $39.10.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ:SNDX opened at $23.50 on Friday. The company has a quick ratio of 4.12, a current ratio of 4.40 and a debt-to-equity ratio of 5.32. The firm has a market capitalization of $2.07 billion, a PE ratio of -7.14 and a beta of 0.42. Syndax Pharmaceuticals, Inc. has a twelve month low of $8.58 and a twelve month high of $25.16. The company has a 50-day moving average price of $21.18 and a two-hundred day moving average price of $18.55.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.14). The business had revenue of $68.73 million during the quarter, compared to the consensus estimate of $64.75 million. Syndax Pharmaceuticals had a negative net margin of 165.37% and a negative return on equity of 206.62%. The business’s revenue for the quarter was up 792.6% on a year-over-year basis. During the same period last year, the firm earned ($1.10) EPS. Equities analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Insider Buying and Selling

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 17,159 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $21.03, for a total transaction of $360,853.77. Following the sale, the chief executive officer owned 491,690 shares of the company’s stock, valued at $10,340,240.70. The trade was a 3.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Keith A. Goldan sold 3,410 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $21.03, for a total transaction of $71,712.30. Following the sale, the chief financial officer directly owned 140,429 shares in the company, valued at $2,953,221.87. The trade was a 2.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 30,063 shares of company stock valued at $628,332 over the last quarter. 4.10% of the stock is owned by company insiders.

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.