Syndax Pharmaceuticals, Inc. $SNDX Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 97.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,737 shares of the company’s stock after selling 1,742,402 shares during the period. Assenagon Asset Management S.A.’s holdings in Syndax Pharmaceuticals were worth $877,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Larson Financial Group LLC lifted its stake in Syndax Pharmaceuticals by 192.2% in the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock valued at $45,000 after buying an additional 1,922 shares in the last quarter. Quantbot Technologies LP purchased a new position in Syndax Pharmaceuticals during the third quarter worth $53,000. Lazard Asset Management LLC purchased a new position in Syndax Pharmaceuticals during the second quarter worth $66,000. Tower Research Capital LLC TRC raised its holdings in shares of Syndax Pharmaceuticals by 103.3% in the second quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock worth $79,000 after acquiring an additional 4,308 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in shares of Syndax Pharmaceuticals in the second quarter worth $97,000.

Insider Activity at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CFO Keith A. Goldan sold 3,410 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 140,429 shares of the company’s stock, valued at $2,953,221.87. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael A. Metzger sold 17,159 shares of Syndax Pharmaceuticals 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 completion of the transaction, the chief executive officer owned 491,690 shares in the company, valued at approximately $10,340,240.70. This trade represents a 3.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,063 shares of company stock worth $628,332 over the last three months. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SNDX. Jefferies Financial Group reaffirmed a “buy” rating and set a $40.00 price objective (down from $48.00) on shares of Syndax Pharmaceuticals in a research note on Monday. Wall Street Zen raised shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Friday. JPMorgan Chase & Co. raised their price target on shares of Syndax Pharmaceuticals from $33.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, March 9th. Finally, BTIG Research reiterated a “buy” rating and set a $56.00 price target on shares of Syndax Pharmaceuticals in a report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $39.50.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ:SNDX opened at $23.36 on Wednesday. The company has a market cap of $2.06 billion, a P/E ratio of -7.10 and a beta of 0.42. The business has a fifty day simple moving average of $21.91 and a 200-day simple moving average of $19.21. Syndax Pharmaceuticals, Inc. has a 52 week low of $8.58 and a 52 week high of $25.59. The company has a quick ratio of 4.12, a current ratio of 4.40 and a debt-to-equity ratio of 5.32.

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

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.