Syndax Pharmaceuticals, Inc. $SNDX Shares Bought by DNB Asset Management AS

DNB Asset Management AS lifted its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 31.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 29,362 shares of the company’s stock after acquiring an additional 6,984 shares during the quarter. DNB Asset Management AS’s holdings in Syndax Pharmaceuticals were worth $275,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SNDX. Quarry LP acquired a new position in Syndax Pharmaceuticals during the 1st quarter worth approximately $25,000. Magnetar Financial LLC acquired a new stake in Syndax Pharmaceuticals in the first quarter valued at approximately $132,000. Corton Capital Inc. purchased a new stake in shares of Syndax Pharmaceuticals during the second quarter valued at approximately $167,000. Fox Run Management L.L.C. acquired a new position in shares of Syndax Pharmaceuticals during the second quarter worth $172,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Syndax Pharmaceuticals during the first quarter worth $179,000.

Syndax Pharmaceuticals Stock Up 2.2%

Shares of Syndax Pharmaceuticals stock opened at $19.87 on Thursday. The business has a 50-day moving average price of $15.66 and a 200 day moving average price of $13.10. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $8.58 and a fifty-two week high of $20.08. The firm has a market cap of $1.73 billion, a P/E ratio of -5.11 and a beta of 0.73. The company has a quick ratio of 4.55, a current ratio of 4.71 and a debt-to-equity ratio of 2.06.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its earnings results on Monday, November 3rd. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.04. The company had revenue of $45.87 million during the quarter, compared to analyst estimates of $49.08 million. Syndax Pharmaceuticals had a negative return on equity of 130.47% and a negative net margin of 428.48%.The business’s revenue was up 266.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.98) EPS. On average, sell-side analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

Insider Activity at Syndax Pharmaceuticals

In related news, CEO Michael A. Metzger sold 157,307 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $16.41, for a total transaction of $2,581,407.87. Following the completion of the sale, the chief executive officer owned 298,661 shares of the company’s stock, valued at $4,901,027.01. This represents a 34.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, November 12th. Stifel Nicolaus began coverage on Syndax Pharmaceuticals in a research note on Wednesday, September 10th. They set a “buy” rating and a $44.00 target price for the company. B. Riley raised Syndax Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, August 6th. The Goldman Sachs Group increased their price target on Syndax Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 5th. Finally, UBS Group raised their price objective on Syndax Pharmaceuticals from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.20.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).