Syndax Pharmaceuticals, Inc. $SNDX Shares Acquired by Boothbay Fund Management LLC

Boothbay Fund Management LLC boosted its position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 103.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 261,933 shares of the company’s stock after buying an additional 133,088 shares during the quarter. Boothbay Fund Management LLC owned 0.30% of Syndax Pharmaceuticals worth $4,030,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised 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 acquiring an additional 104,683 shares in the last quarter. Bank of America Corp DE boosted 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 in the last quarter. Franklin Resources Inc. grew its stake in shares of Syndax Pharmaceuticals by 1.3% in 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 last quarter. Stempoint Capital LP grew its stake in shares of Syndax Pharmaceuticals by 48.4% in 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 last quarter. Finally, Geode Capital Management LLC raised 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 purchasing an additional 26,365 shares in the last quarter.

Insider Buying and Selling at Syndax Pharmaceuticals

In other news, CEO Michael A. Metzger sold 17,159 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $21.03, for a total value of $360,853.77. Following the completion of the sale, the chief executive officer owned 491,690 shares in the company, valued at $10,340,240.70. This represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith A. Goldan sold 3,410 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $21.03, for a total value of $71,712.30. Following the completion of the sale, the chief financial officer directly owned 140,429 shares of the company’s stock, valued at approximately $2,953,221.87. This trade represents a 2.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 30,063 shares of company stock worth $628,332. Company insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SNDX shares. Barclays increased their target price on shares of Syndax Pharmaceuticals from $22.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, November 24th. Citigroup upped their price target on Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a “buy” rating in a report on Monday, March 2nd. BTIG Research reiterated a “buy” rating and set a $56.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Monday, December 29th. Finally, Stifel Nicolaus set a $45.00 target price on Syndax Pharmaceuticals in a report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Syndax Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $39.10.

Syndax Pharmaceuticals Stock Performance

Syndax Pharmaceuticals stock opened at $23.50 on Monday. The firm’s 50 day simple moving average is $21.18 and its 200-day simple moving average is $18.56. The company has a market cap of $2.07 billion, a P/E ratio of -7.14 and a beta of 0.42. The company has a debt-to-equity ratio of 5.32, a current ratio of 4.40 and a quick ratio of 4.12. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $8.58 and a fifty-two week high of $25.16.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.14). Syndax Pharmaceuticals had a negative net margin of 165.37% and a negative return on equity of 206.62%. The firm had revenue of $68.73 million for the quarter, compared to analyst estimates of $64.75 million. During the same quarter in the prior year, the firm earned ($1.10) EPS. The firm’s revenue was up 792.6% compared to the same quarter last year. As a group, equities research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Syndax Pharmaceuticals Company Profile

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.