SG Americas Securities LLC Acquires Shares of 45,426 Syndax Pharmaceuticals, Inc. $SNDX

SG Americas Securities LLC bought a new position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 45,426 shares of the company’s stock, valued at approximately $699,000. SG Americas Securities LLC owned about 0.05% of Syndax Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SNDX. Hennion & Walsh Asset Management Inc. grew its position in shares of Syndax Pharmaceuticals by 69.9% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 54,698 shares of the company’s stock valued at $842,000 after buying an additional 22,513 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Syndax Pharmaceuticals in the third quarter worth approximately $253,000. Simplify Asset Management Inc. grew its position in Syndax Pharmaceuticals by 13.8% in the 3rd quarter. Simplify Asset Management Inc. now owns 28,505 shares of the company’s stock valued at $439,000 after purchasing an additional 3,456 shares during the period. CWM LLC raised its holdings in shares of Syndax Pharmaceuticals by 141.7% in the 3rd quarter. CWM LLC now owns 21,175 shares of the company’s stock worth $326,000 after acquiring an additional 12,414 shares during the last quarter. Finally, Hudson Bay Capital Management LP lifted its holdings in shares of Syndax Pharmaceuticals by 77.3% in the second quarter. Hudson Bay Capital Management LP now owns 443,300 shares of the company’s stock valued at $4,152,000 after purchasing an additional 193,300 shares in the last quarter.

Syndax Pharmaceuticals Trading Up 1.4%

NASDAQ:SNDX opened at $20.52 on Thursday. The business has a fifty day moving average price of $20.04 and a 200-day moving average price of $16.07. The company has a debt-to-equity ratio of 2.78, a current ratio of 4.64 and a quick ratio of 4.42. Syndax Pharmaceuticals, Inc. has a one year low of $8.58 and a one year high of $22.73. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -5.68 and a beta of 0.48.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.04. Syndax Pharmaceuticals had a negative net margin of 279.31% and a negative return on equity of 160.60%. The firm had revenue of $45.87 million for the quarter, compared to the consensus estimate of $49.08 million. During the same period last year, the firm earned ($0.98) EPS. The company’s revenue was up 266.4% on a year-over-year basis. Sell-side analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SNDX. Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Monday, December 29th. Wall Street Zen lowered Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. JPMorgan Chase & Co. dropped their price objective 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. BTIG Research reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 9th. Finally, HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Syndax Pharmaceuticals in a report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.20.

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.