100,000 Shares in Syndax Pharmaceuticals, Inc. $SNDX Acquired by Ishara Investments LP

Ishara Investments LP acquired a new position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $2,101,000. Syndax Pharmaceuticals makes up approximately 2.4% of Ishara Investments LP’s investment portfolio, making the stock its 14th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNDX. Larson Financial Group LLC boosted its stake in Syndax Pharmaceuticals by 192.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock valued at $45,000 after purchasing an additional 1,922 shares in the last quarter. Quantbot Technologies LP bought a new position in Syndax Pharmaceuticals during the 3rd quarter valued at $53,000. Smartleaf Asset Management LLC boosted its stake in Syndax Pharmaceuticals by 2,698.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock valued at $55,000 after purchasing an additional 2,564 shares in the last quarter. Lazard Asset Management LLC bought a new position in Syndax Pharmaceuticals during the 2nd quarter valued at $66,000. Finally, Tower Research Capital LLC TRC boosted its stake in Syndax Pharmaceuticals by 103.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock valued at $79,000 after purchasing an additional 4,308 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SNDX shares. HC Wainwright reiterated a “buy” rating and set a $40.00 price objective on shares of Syndax Pharmaceuticals in a research report on Friday, June 12th. Mizuho cut their price objective on Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. UBS Group reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Friday, June 12th. Wall Street Zen upgraded Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Stifel Nicolaus set a $45.00 price objective on Syndax Pharmaceuticals in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.55.

Insiders Place Their Bets

In other news, CEO Michael A. Metzger sold 6,847 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $18.99, for a total value of $130,024.53. Following the completion of the sale, the chief executive officer owned 484,843 shares in the company, valued at $9,207,168.57. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CMO Nicholas A.J. Botwood sold 31,235 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $18.14, for a total value of $566,602.90. Following the completion of the sale, the chief marketing officer owned 60,885 shares of the company’s stock, valued at $1,104,453.90. The trade was a 33.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 73,539 shares of company stock valued at $1,336,019 in the last 90 days. Corporate insiders own 4.80% of the company’s stock.

Syndax Pharmaceuticals Price Performance

SNDX opened at $19.04 on Thursday. The stock has a fifty day moving average of $20.68 and a 200-day moving average of $21.21. The firm has a market capitalization of $1.69 billion, a P/E ratio of -6.82 and a beta of 0.38. Syndax Pharmaceuticals, Inc. has a 12-month low of $8.59 and a 12-month high of $25.59. The company has a quick ratio of 5.06, a current ratio of 5.47 and a debt-to-equity ratio of 8.26.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.11. The company had revenue of $64.86 million during the quarter, compared to analyst estimates of $69.76 million. Syndax Pharmaceuticals had a negative return on equity of 256.65% and a negative net margin of 111.88%.The company’s revenue for the quarter was up 224.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.98) earnings per share. Equities analysts forecast that Syndax Pharmaceuticals, Inc. will post -1.66 EPS for the current fiscal year.

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.