Seven Fleet Capital Management LP Takes $1.65 Million Position in Syndax Pharmaceuticals, Inc. $SNDX

Seven Fleet Capital Management LP acquired a new position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 77,930 shares of the company’s stock, valued at approximately $1,645,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Syndax Pharmaceuticals during the 2nd quarter valued at about $197,177,000. Vanguard Group Inc. increased its stake in Syndax Pharmaceuticals by 21.2% in the 4th quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock worth $130,899,000 after purchasing an additional 1,091,717 shares during the period. Goldman Sachs Group Inc. increased its stake in Syndax Pharmaceuticals by 3.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,695,375 shares of the company’s stock worth $119,660,000 after purchasing an additional 208,941 shares during the period. State Street Corp lifted its position in Syndax Pharmaceuticals by 19.3% in the fourth quarter. State Street Corp now owns 4,596,552 shares of the company’s stock valued at $96,574,000 after purchasing an additional 743,003 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in Syndax Pharmaceuticals in the second quarter valued at approximately $88,426,000.

Insiders Place Their Bets

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 32,375 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $24.24, for a total value of $784,770.00. Following the completion of the transaction, the chief executive officer owned 484,843 shares in the company, valued at approximately $11,752,594.32. This represents a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Nicholas A.J. Botwood sold 34,280 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $18.00, for a total value of $617,040.00. Following the transaction, the chief marketing officer directly owned 60,885 shares of the company’s stock, valued at $1,095,930. This represents a 36.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 105,914 shares of company stock valued at $2,120,789. 4.80% of the stock is owned by corporate insiders.

Syndax Pharmaceuticals Stock Up 0.9%

SNDX stock opened at $20.09 on Thursday. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $12.99 and a fifty-two week high of $25.59. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -8.00 and a beta of 0.40. The business’s 50 day moving average price is $20.89 and its two-hundred day moving average price is $21.30. The company has a debt-to-equity ratio of 38.95, a quick ratio of 6.44 and a current ratio of 6.77.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Tuesday, August 4th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.10). Syndax Pharmaceuticals had a negative net margin of 87.52% and a negative return on equity of 372.94%. The firm had revenue of $72.79 million during the quarter, compared to analysts’ expectations of $79.36 million. During the same quarter in the previous year, the business earned ($0.83) EPS. The company’s revenue for the quarter was up 91.8% compared to the same quarter last year. As a group, analysts forecast that Syndax Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on SNDX shares. Weiss Ratings upgraded shares of Syndax Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Barclays upped their price target on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, May 1st. UBS Group dropped their price target on shares of Syndax Pharmaceuticals from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, August 21st. Bank of America reissued a “buy” rating on shares of Syndax Pharmaceuticals in a report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.55.

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.