Syndax Pharmaceuticals, Inc. $SNDX Shares Sold by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP decreased its position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 43.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 250,000 shares of the company’s stock after selling 193,300 shares during the period. Hudson Bay Capital Management LP owned about 0.29% of Syndax Pharmaceuticals worth $3,846,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Syndax Pharmaceuticals by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,138,617 shares of the company’s stock worth $79,058,000 after buying an additional 104,683 shares during the last quarter. Bank of America Corp DE grew 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 valued at $35,951,000 after acquiring an additional 967,873 shares during the last quarter. Kingdon Capital Management L.L.C. increased its holdings in Syndax Pharmaceuticals by 19.0% during the 3rd quarter. Kingdon Capital Management L.L.C. now owns 2,500,000 shares of the company’s stock valued at $38,462,000 after acquiring an additional 400,000 shares in the last quarter. Franklin Resources Inc. raised its position in Syndax Pharmaceuticals by 1.3% during the third quarter. Franklin Resources Inc. now owns 2,390,561 shares of the company’s stock worth $36,779,000 after acquiring an additional 30,884 shares during the last quarter. Finally, Stempoint Capital LP raised its position in Syndax Pharmaceuticals by 48.4% during the second quarter. Stempoint Capital LP now owns 2,372,634 shares of the company’s stock worth $22,220,000 after acquiring an additional 774,040 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have recently commented on SNDX. Barclays increased their price target on shares of Syndax Pharmaceuticals from $22.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, November 24th. Stifel Nicolaus set a $45.00 price objective on Syndax Pharmaceuticals in a research report on Friday, February 27th. BTIG Research reaffirmed a “buy” rating and issued a $56.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 9th. JPMorgan Chase & Co. raised their price target on Syndax Pharmaceuticals from $33.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, March 9th. Finally, Wall Street Zen raised Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $39.10.

Insider Buying and Selling at Syndax Pharmaceuticals

In other news, 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 transaction of $71,712.30. Following the sale, the chief financial officer owned 140,429 shares in the company, 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 Securities & Exchange Commission, which is available through this link. Also, CEO Michael A. Metzger sold 17,159 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $21.03, for a total value of $360,853.77. Following the completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 30,063 shares of company stock worth $628,332 in the last 90 days. Insiders own 4.10% of the company’s stock.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX opened at $24.23 on Friday. The company has a debt-to-equity ratio of 5.32, a current ratio of 4.40 and a quick ratio of 4.12. The firm has a market cap of $2.14 billion, a PE ratio of -7.36 and a beta of 0.42. The firm has a 50 day simple moving average of $21.47 and a 200-day simple moving average of $18.82. Syndax Pharmaceuticals, Inc. has a 1-year low of $8.58 and a 1-year high of $25.44.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its 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). The firm had revenue of $68.73 million for the quarter, compared to analyst estimates of $64.75 million. Syndax Pharmaceuticals had a negative return on equity of 206.62% and a negative net margin of 165.37%.The firm’s revenue was up 792.6% compared to the same quarter last year. During the same quarter last year, the business posted ($1.10) EPS. On average, equities 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.