Parkman Healthcare Partners LLC Takes Position in Syndax Pharmaceuticals, Inc. $SNDX

Parkman Healthcare Partners LLC purchased a new position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 877,256 shares of the company’s stock, valued at approximately $19,177,000. Syndax Pharmaceuticals comprises 2.0% of Parkman Healthcare Partners LLC’s investment portfolio, making the stock its 19th largest holding.

A number of other large investors have also added to or reduced their stakes in the business. Hsbc Holdings PLC grew its holdings in Syndax Pharmaceuticals by 3.2% during the 1st quarter. Hsbc Holdings PLC now owns 23,461 shares of the company’s stock worth $556,000 after acquiring an additional 730 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Syndax Pharmaceuticals by 26.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock worth $89,000 after purchasing an additional 893 shares during the period. Allworth Financial LP bought a new stake in shares of Syndax Pharmaceuticals in the second quarter worth $26,000. Schroder Investment Management Group grew its stake in shares of Syndax Pharmaceuticals by 1.0% in the third quarter. Schroder Investment Management Group now owns 123,404 shares of the company’s stock worth $1,920,000 after purchasing an additional 1,241 shares during the last quarter. Finally, Verition Fund Management LLC increased its holdings in Syndax Pharmaceuticals by 7.5% in the fourth quarter. Verition Fund Management LLC now owns 18,460 shares of the company’s stock valued at $388,000 after purchasing an additional 1,281 shares during the period.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX opened at $19.57 on Tuesday. The company has a current ratio of 6.77, a quick ratio of 6.44 and a debt-to-equity ratio of 38.95. The firm’s fifty day simple moving average is $20.85 and its two-hundred day simple moving average is $21.30. Syndax Pharmaceuticals, Inc. has a 12 month low of $12.99 and a 12 month high of $25.59. The stock has a market capitalization of $1.73 billion, a P/E ratio of -7.80 and a beta of 0.40.

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

Wall Street Analysts Forecast Growth

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

Insider Activity at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 32,375 shares of Syndax Pharmaceuticals stock in a transaction that occurred 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 sale, the chief executive officer directly owned 484,843 shares in the company, valued at approximately $11,752,594.32. The trade was a 6.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Nicholas A.J. Botwood sold 31,235 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Friday, June 12th. The stock was 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 approximately $1,104,453.90. The trade was a 33.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 105,914 shares of company stock valued at $2,120,789 in the last ninety days. 4.80% of the stock is currently owned by insiders.

About Syndax Pharmaceuticals

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.