Seven Fleet Capital Management LP Invests $1.65 Million in Syndax Pharmaceuticals, Inc. $SNDX

Seven Fleet Capital Management LP purchased a new stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 77,930 shares of the company’s stock, valued at approximately $1,645,000. Seven Fleet Capital Management LP owned 0.09% of Syndax Pharmaceuticals as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Syndax Pharmaceuticals in the 2nd quarter valued at approximately $197,177,000. Vanguard Group Inc. lifted its position in shares of Syndax Pharmaceuticals by 21.2% during the fourth quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock worth $130,899,000 after acquiring an additional 1,091,717 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Syndax Pharmaceuticals by 3.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,695,375 shares of the company’s stock worth $119,660,000 after acquiring an additional 208,941 shares during the period. State Street Corp raised its stake in shares of Syndax Pharmaceuticals by 19.3% during the 4th quarter. State Street Corp now owns 4,596,552 shares of the company’s stock valued at $96,574,000 after purchasing an additional 743,003 shares during the period. Finally, Bank of America Corp DE purchased a new stake in Syndax Pharmaceuticals during the 2nd quarter worth about $88,426,000.

Insider Activity

In other Syndax Pharmaceuticals news, CMO Nicholas A.J. Botwood sold 34,280 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief marketing officer owned 60,885 shares of the company’s stock, valued at $1,095,930. This represents a 36.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael A. Metzger sold 32,375 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $24.24, for a total value of $784,770.00. Following the completion of the sale, the chief executive officer directly owned 484,843 shares of the company’s stock, valued at approximately $11,752,594.32. This represents a 6.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 105,914 shares of company stock worth $2,120,789 over the last quarter. Corporate insiders own 4.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Bank of America reissued a “buy” rating on shares of Syndax Pharmaceuticals in a report on Wednesday, August 5th. Barclays upped their target price on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. HC Wainwright lowered their target price on shares of Syndax Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. JPMorgan Chase & Co. cut their price target on shares of Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. Finally, Weiss Ratings raised shares of Syndax Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.55.

Syndax Pharmaceuticals Stock Up 0.9%

Shares of NASDAQ:SNDX opened at $20.09 on Thursday. Syndax Pharmaceuticals, Inc. has a 52-week low of $12.99 and a 52-week high of $25.59. The firm has a fifty day moving average of $20.89 and a 200 day moving average of $21.30. The firm has a market capitalization of $1.78 billion, a PE ratio of -8.00 and a beta of 0.40. The company has a debt-to-equity ratio of 38.95, a quick ratio of 6.44 and a current ratio of 6.77.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Tuesday, August 4th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.10). Syndax Pharmaceuticals had a negative net margin of 87.52% and a negative return on equity of 372.94%. The firm had revenue of $72.79 million during the quarter, compared to the consensus estimate of $79.36 million. During the same period in the prior year, the company earned ($0.83) EPS. The firm’s revenue was up 91.8% compared to the same quarter last year. As a group, research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -2.01 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.