Torray Investment Partners LLC Invests $2.06 Million in Syndax Pharmaceuticals, Inc. $SNDX

Torray Investment Partners LLC purchased a new position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 97,802 shares of the company’s stock, valued at approximately $2,055,000. Torray Investment Partners LLC owned about 0.11% of Syndax Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC raised its stake in Syndax Pharmaceuticals by 192.2% in 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 during the last quarter. Quantbot Technologies LP acquired a new position in Syndax Pharmaceuticals in the 3rd quarter valued at about $53,000. Lazard Asset Management LLC acquired a new position in Syndax Pharmaceuticals in the 2nd quarter valued at about $66,000. Tower Research Capital LLC TRC raised its stake in Syndax Pharmaceuticals by 103.3% in 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 during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Syndax Pharmaceuticals by 26.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock valued at $89,000 after purchasing an additional 893 shares during the last quarter.

Insider Buying and Selling

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 17,159 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $21.03, for a total value of $360,853.77. Following the completion of the transaction, the chief executive officer owned 491,690 shares in the company, valued at $10,340,240.70. This represents a 3.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Keith A. Goldan sold 3,410 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $21.03, for a total value of $71,712.30. Following the completion of the transaction, the chief financial officer owned 140,429 shares of the company’s stock, valued at approximately $2,953,221.87. This represents a 2.37% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 30,063 shares of company stock valued at $628,332. 4.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Friday, March 27th. Wall Street Zen upgraded Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Jefferies Financial Group restated a “buy” rating and issued a $40.00 price target (down from $48.00) on shares of Syndax Pharmaceuticals in a report on Monday, March 30th. JPMorgan Chase & Co. lifted their price target on Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, March 9th. Finally, Mizuho lowered their price target on Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.33.

Syndax Pharmaceuticals Stock Down 1.2%

NASDAQ SNDX traded down $0.26 on Thursday, reaching $21.82. The company had a trading volume of 287,976 shares, compared to its average volume of 1,356,186. The firm has a market capitalization of $1.92 billion, a PE ratio of -6.63 and a beta of 0.41. Syndax Pharmaceuticals, Inc. has a 1 year low of $8.58 and a 1 year high of $25.59. The firm has a 50-day moving average of $22.97 and a 200-day moving average of $20.18. The company has a debt-to-equity ratio of 5.32, a current ratio of 4.40 and a quick ratio of 4.12.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.14). The company had revenue of $68.73 million during the quarter, compared to analysts’ expectations of $64.75 million. Syndax Pharmaceuticals had a negative return on equity of 206.62% and a negative net margin of 165.37%.The firm’s revenue was up 792.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.10) EPS. On average, equities research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -1.65 EPS for the current fiscal year.

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.