Syndax Pharmaceuticals, Inc. $SNDX Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its holdings in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 8.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 498,200 shares of the company’s stock after selling 46,600 shares during the period. Renaissance Technologies LLC’s holdings in Syndax Pharmaceuticals were worth $11,638,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hsbc Holdings PLC lifted its position in shares of Syndax Pharmaceuticals by 3.2% in the 1st quarter. Hsbc Holdings PLC now owns 23,461 shares of the company’s stock worth $556,000 after buying an additional 730 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Syndax Pharmaceuticals by 26.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock valued at $89,000 after buying an additional 893 shares during the last quarter. Schroder Investment Management Group grew its position in shares of Syndax Pharmaceuticals by 1.0% during the 3rd quarter. Schroder Investment Management Group now owns 123,404 shares of the company’s stock valued at $1,920,000 after buying an additional 1,241 shares during the last quarter. Verition Fund Management LLC raised its stake in Syndax Pharmaceuticals by 7.5% during the fourth quarter. Verition Fund Management LLC now owns 18,460 shares of the company’s stock worth $388,000 after acquiring an additional 1,281 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in Syndax Pharmaceuticals by 9.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 17,562 shares of the company’s stock worth $374,000 after acquiring an additional 1,455 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SNDX shares. HC Wainwright restated a “buy” rating and issued a $40.00 target price on shares of Syndax Pharmaceuticals in a research note on Wednesday, July 15th. Barclays increased their price target on Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Weiss Ratings downgraded Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Finally, UBS Group restated a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.55.

Insider Buying and Selling

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 32,375 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $24.24, for a total transaction of $784,770.00. Following the completion of the transaction, the chief executive officer owned 484,843 shares in the company, valued at approximately $11,752,594.32. The trade was a 6.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Nicholas A.J. Botwood sold 34,280 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $18.00, for a total value of $617,040.00. Following the transaction, the chief marketing officer owned 60,885 shares of the company’s stock, valued at $1,095,930. This trade represents a 36.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 105,914 shares of company stock valued at $2,120,789 over the last three months. Corporate insiders own 4.80% of the company’s stock.

Syndax Pharmaceuticals Trading Down 2.2%

Shares of NASDAQ:SNDX opened at $19.05 on Friday. The company has a quick ratio of 5.06, a current ratio of 5.47 and a debt-to-equity ratio of 8.26. The company’s 50-day moving average price is $20.43 and its 200 day moving average price is $21.40. The company has a market cap of $1.69 billion, a PE ratio of -6.83 and a beta of 0.37. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $9.49 and a fifty-two week high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.11. The company had revenue of $64.86 million for the quarter, compared to analyst estimates of $69.76 million. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. Syndax Pharmaceuticals’s revenue was up 224.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.98) earnings per share. Sell-side analysts anticipate that Syndax Pharmaceuticals, Inc. will post -1.65 earnings per share for the current year.

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.