Catalio Capital Management LP Trims Stock Holdings in Syndax Pharmaceuticals, Inc. $SNDX

Catalio Capital Management LP reduced its holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 25.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,196,807 shares of the company’s stock after selling 417,910 shares during the period. Syndax Pharmaceuticals comprises approximately 4.7% of Catalio Capital Management LP’s portfolio, making the stock its 7th largest holding. Catalio Capital Management LP’s holdings in Syndax Pharmaceuticals were worth $25,145,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SNDX. Vanguard Group Inc. lifted its position in Syndax Pharmaceuticals by 21.2% in the 4th quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock valued at $130,899,000 after purchasing an additional 1,091,717 shares during the last quarter. Bank of America Corp DE lifted its position in Syndax Pharmaceuticals by 33.7% in the 2nd quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock valued at $35,951,000 after purchasing an additional 967,873 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in Syndax Pharmaceuticals by 99.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,665,916 shares of the company’s stock valued at $15,601,000 after purchasing an additional 831,067 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Syndax Pharmaceuticals by 126.8% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,432,440 shares of the company’s stock valued at $13,415,000 after purchasing an additional 800,800 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its position in Syndax Pharmaceuticals by 97.6% in the 4th quarter. Ensign Peak Advisors Inc now owns 1,598,544 shares of the company’s stock valued at $33,585,000 after purchasing an additional 789,480 shares during the last quarter.

Syndax Pharmaceuticals Stock Performance

Syndax Pharmaceuticals stock opened at $19.04 on Thursday. The firm’s 50 day simple moving average is $20.68 and its 200-day simple moving average is $21.21. The company has a market cap of $1.69 billion, a P/E ratio of -6.82 and a beta of 0.38. The company has a debt-to-equity ratio of 8.26, a current ratio of 5.47 and a quick ratio of 5.06. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $8.59 and a fifty-two week high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.11. The business had revenue of $64.86 million for the quarter, compared to the consensus estimate of $69.76 million. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. The firm’s quarterly revenue was up 224.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.98) earnings per share. As a group, equities research analysts predict that Syndax Pharmaceuticals, Inc. will post -1.66 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Mizuho cut their price objective on shares of Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Stifel Nicolaus set a $45.00 price objective on shares of Syndax Pharmaceuticals in a research report on Friday, February 27th. Barclays lifted their price objective on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Citigroup raised their target price on shares of Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of Syndax Pharmaceuticals in a research note on Friday, June 12th. One investment 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.55.

Insider Activity at Syndax Pharmaceuticals

In related news, CEO Michael A. Metzger sold 6,847 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $18.99, for a total transaction of $130,024.53. Following the completion of the sale, the chief executive officer directly owned 484,843 shares in the company, valued at approximately $9,207,168.57. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $18.14, for a total transaction of $566,602.90. Following the sale, the chief marketing officer owned 60,885 shares of the company’s stock, valued at approximately $1,104,453.90. This represents a 33.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 73,539 shares of company stock valued at $1,336,019. 4.80% of the stock is currently owned by corporate 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.