Syndax Pharmaceuticals, Inc. $SNDX Stock Position Boosted by Headlands Technologies LLC

Headlands Technologies LLC raised its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 121.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,227 shares of the company’s stock after buying an additional 30,835 shares during the period. Headlands Technologies LLC owned approximately 0.06% of Syndax Pharmaceuticals worth $1,229,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Allworth Financial LP bought a new position in shares of Syndax Pharmaceuticals in the second quarter valued at approximately $26,000. Larson Financial Group LLC raised its holdings in Syndax Pharmaceuticals by 192.2% during the third quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock worth $45,000 after purchasing an additional 1,922 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Syndax Pharmaceuticals in the third quarter worth approximately $53,000. Smartleaf Asset Management LLC lifted its position in Syndax Pharmaceuticals by 2,698.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock worth $55,000 after purchasing an additional 2,564 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in Syndax Pharmaceuticals in the second quarter worth approximately $66,000.

Syndax Pharmaceuticals Trading Down 1.3%

Syndax Pharmaceuticals stock opened at $19.29 on Tuesday. Syndax Pharmaceuticals, Inc. has a 52 week low of $12.99 and a 52 week high of $25.59. The company has a debt-to-equity ratio of 38.95, a quick ratio of 6.44 and a current ratio of 6.77. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -7.69 and a beta of 0.40. The company has a 50 day moving average price of $20.93 and a 200 day moving average price of $21.26.

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

Insiders Place Their Bets

In related news, CMO Nicholas A.J. Botwood sold 34,280 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $18.00, for a total transaction of $617,040.00. Following the transaction, the chief marketing officer directly owned 60,885 shares of the company’s stock, valued at approximately $1,095,930. The trade was a 36.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael A. Metzger sold 32,375 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $24.24, for a total value of $784,770.00. Following the transaction, the chief executive officer directly owned 484,843 shares in the company, valued at $11,752,594.32. The trade was a 6.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 97,890 shares of company stock worth $1,968,413 in the last quarter. 4.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SNDX has been the topic of several research analyst reports. UBS Group lowered their price target on Syndax Pharmaceuticals from $37.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, August 21st. Bank of America restated a “buy” rating on shares of Syndax Pharmaceuticals in a report on Wednesday, August 5th. JPMorgan Chase & Co. decreased their target price on Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, August 11th. Weiss Ratings raised Syndax Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Finally, HC Wainwright dropped their price target on shares of Syndax Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Syndax Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $41.55.

Syndax Pharmaceuticals 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.