Apis Capital Advisors LLC Takes Position in Syndax Pharmaceuticals, Inc. $SNDX

Apis Capital Advisors LLC purchased a new position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 638,000 shares of the company’s stock, valued at approximately $9,816,000. Syndax Pharmaceuticals comprises 2.2% of Apis Capital Advisors LLC’s portfolio, making the stock its 17th biggest position. Apis Capital Advisors LLC owned about 0.73% of Syndax Pharmaceuticals at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Syndax Pharmaceuticals by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,138,617 shares of the company’s stock valued at $79,058,000 after acquiring an additional 104,683 shares in the last quarter. Bank of America Corp DE lifted its stake in Syndax Pharmaceuticals by 33.7% in the 2nd quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock worth $35,951,000 after purchasing an additional 967,873 shares in the last quarter. Franklin Resources Inc. boosted its holdings 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 last quarter. Stempoint Capital LP boosted its holdings 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 last quarter. Finally, Geode Capital Management LLC grew its position in shares of Syndax Pharmaceuticals by 1.3% in the second quarter. Geode Capital Management LLC now owns 2,049,350 shares of the company’s stock valued at $19,195,000 after purchasing an additional 26,365 shares in the last quarter.

Insiders Place Their Bets

In related news, CEO Michael A. Metzger sold 17,159 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $21.03, for a total value of $360,853.77. Following the sale, the chief executive officer directly owned 491,690 shares in the company, valued at approximately $10,340,240.70. The trade was a 3.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Keith A. Goldan sold 3,410 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $21.03, for a total transaction of $71,712.30. Following the completion of the transaction, 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. Over the last quarter, insiders have sold 30,063 shares of company stock valued at $628,332. Company insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

SNDX has been the subject of several recent research reports. Barclays increased their price target on Syndax Pharmaceuticals from $22.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, November 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Monday, December 29th. Stifel Nicolaus set a $45.00 target price on Syndax Pharmaceuticals in a report on Friday, February 27th. Citigroup raised their target price on Syndax Pharmaceuticals from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Syndax Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $39.10.

Syndax Pharmaceuticals Trading Down 2.0%

SNDX opened at $23.50 on Friday. Syndax Pharmaceuticals, Inc. has a one year low of $8.58 and a one year high of $25.16. The stock has a market capitalization of $2.07 billion, a PE ratio of -7.14 and a beta of 0.42. The business’s 50 day moving average price is $21.18 and its 200 day moving average price is $18.55. The company has a debt-to-equity ratio of 5.32, a quick ratio of 4.12 and a current ratio of 4.40.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its 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). Syndax Pharmaceuticals had a negative return on equity of 206.62% and a negative net margin of 165.37%.The business had revenue of $68.73 million for the quarter, compared to analyst estimates of $64.75 million. During the same period last year, the business earned ($1.10) EPS. Syndax Pharmaceuticals’s revenue was up 792.6% compared to the same quarter last year. As a group, equities research analysts expect that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Syndax Pharmaceuticals 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.