SG Americas Securities LLC Has $900,000 Stock Position in Syndax Pharmaceuticals, Inc. $SNDX

SG Americas Securities LLC lessened its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 70.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,548 shares of the company’s stock after selling 90,679 shares during the quarter. SG Americas Securities LLC’s holdings in Syndax Pharmaceuticals were worth $900,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SNDX. Vanguard Group Inc. raised its stake in Syndax Pharmaceuticals by 21.2% during the 4th quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock worth $130,899,000 after buying an additional 1,091,717 shares during the period. Goldman Sachs Group Inc. grew its stake in Syndax Pharmaceuticals by 3.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,695,375 shares of the company’s stock valued at $119,660,000 after acquiring an additional 208,941 shares during the period. State Street Corp increased its holdings in shares of Syndax Pharmaceuticals by 19.3% during the fourth quarter. State Street Corp now owns 4,596,552 shares of the company’s stock valued at $96,574,000 after acquiring an additional 743,003 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Syndax Pharmaceuticals by 33.7% during the second quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock valued at $35,951,000 after acquiring an additional 967,873 shares in the last quarter. Finally, Kingdon Capital Management L.L.C. raised its position in shares of Syndax Pharmaceuticals by 19.0% during the third quarter. Kingdon Capital Management L.L.C. now owns 2,500,000 shares of the company’s stock worth $38,462,000 after purchasing an additional 400,000 shares during the period.

Syndax Pharmaceuticals Stock Performance

Shares of Syndax Pharmaceuticals stock opened at $21.82 on Monday. Syndax Pharmaceuticals, Inc. has a 1 year low of $8.59 and a 1 year high of $25.59. The firm has a market cap of $1.93 billion, a PE ratio of -7.82 and a beta of 0.37. The stock has a fifty day moving average price of $19.84 and a 200-day moving average price of $21.26. 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 (NASDAQ:SNDX) last released its earnings results on Thursday, April 30th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.11. The company had revenue of $64.86 million for the quarter, compared to analysts’ expectations of $69.76 million. Syndax Pharmaceuticals had a negative return on equity of 256.65% and a negative net margin of 111.88%.The business’s revenue for the quarter was up 224.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.98) EPS. Equities research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -1.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SNDX shares. The Goldman Sachs Group lifted their price target on shares of Syndax Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Wednesday, June 24th. 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 report on Friday, May 1st. Mizuho lowered their target price on shares of Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Finally, UBS Group reaffirmed a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.55.

Insider Transactions at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CMO Nicholas A.J. Botwood sold 31,235 shares of Syndax Pharmaceuticals stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $18.14, for a total value 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. The trade was a 33.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael A. Metzger sold 6,847 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer owned 484,843 shares in the company, valued at approximately $9,207,168.57. The trade was a 1.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 73,539 shares of company stock valued at $1,336,019 in the last 90 days. 4.80% of the stock is currently owned by corporate insiders.

Syndax Pharmaceuticals Company 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.