Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Position Lifted by Granahan Investment Management LLC

Granahan Investment Management LLC raised its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 36.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 905,322 shares of the company’s stock after purchasing an additional 240,557 shares during the period. Granahan Investment Management LLC’s holdings in Syndax Pharmaceuticals were worth $11,968,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. R Squared Ltd bought a new stake in Syndax Pharmaceuticals in the fourth quarter valued at about $26,000. Virtus ETF Advisers LLC increased its holdings in shares of Syndax Pharmaceuticals by 18.6% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company’s stock valued at $70,000 after acquiring an additional 827 shares during the last quarter. Cape Investment Advisory Inc. raised its position in shares of Syndax Pharmaceuticals by 157.1% during the 4th quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company’s stock valued at $85,000 after acquiring an additional 3,927 shares in the last quarter. KBC Group NV lifted its stake in Syndax Pharmaceuticals by 104.8% during the fourth quarter. KBC Group NV now owns 6,954 shares of the company’s stock worth $92,000 after purchasing an additional 3,559 shares during the last quarter. Finally, Optimize Financial Inc acquired a new position in Syndax Pharmaceuticals in the fourth quarter worth $152,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Scotiabank raised their price target on shares of Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a “sector perform” rating in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, March 4th. JPMorgan Chase & Co. raised their price target on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Guggenheim restated a “buy” rating and set a $32.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday. Finally, StockNews.com upgraded Syndax Pharmaceuticals to a “sell” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.91.

Syndax Pharmaceuticals Trading Down 2.8 %

SNDX stock opened at $10.70 on Friday. The firm’s 50-day moving average is $12.48 and its two-hundred day moving average is $14.42. The company has a market capitalization of $920.67 million, a price-to-earnings ratio of -2.95 and a beta of 0.82. Syndax Pharmaceuticals, Inc. has a 52 week low of $9.66 and a 52 week high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Monday, May 5th. The company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.06. The firm had revenue of $20.04 million for the quarter, compared to the consensus estimate of $15.88 million. Syndax Pharmaceuticals’s revenue for the quarter was up 1900.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.85) EPS. On average, equities research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Insider Activity

In other Syndax Pharmaceuticals news, CFO Keith A. Goldan sold 3,777 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $58,543.50. Following the completion of the sale, the chief financial officer now directly owns 90,746 shares of the company’s stock, valued at approximately $1,406,563. This represents a 4.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Neil Gallagher sold 4,618 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction of $71,579.00. Following the completion of the transaction, the insider now directly owns 85,095 shares in the company, valued at $1,318,972.50. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,683 shares of company stock worth $336,087 over the last 90 days. 4.10% of the stock is currently owned by company insiders.

Syndax Pharmaceuticals Company Profile

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).