Man Group plc Buys New Stake in Syndax Pharmaceuticals, Inc. $SNDX

Man Group plc bought a new stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 213,703 shares of the company’s stock, valued at approximately $4,672,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Allworth Financial LP acquired a new position in shares of Syndax Pharmaceuticals during the second quarter valued at $26,000. Larson Financial Group LLC raised its stake in shares of Syndax Pharmaceuticals by 192.2% during the third quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock valued at $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 about $53,000. Smartleaf Asset Management LLC lifted its holdings 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 bought a new position in Syndax Pharmaceuticals in the 2nd quarter valued at about $66,000.

Wall Street Analyst Weigh In

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

Syndax Pharmaceuticals Stock Performance

Shares of SNDX stock opened at $19.54 on Monday. The stock has a 50-day simple moving average of $20.93 and a 200 day simple moving average of $21.28. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $12.99 and a fifty-two week high of $25.59. The stock has a market capitalization of $1.73 billion, a P/E ratio of -7.78 and a beta of 0.40. The company has a quick ratio of 6.44, a current ratio of 6.77 and a debt-to-equity ratio of 38.95.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.10). Syndax Pharmaceuticals had a negative return on equity of 372.94% and a negative net margin of 87.52%.The business had revenue of $72.79 million during the quarter, compared to the consensus estimate of $79.36 million. During the same quarter last year, the firm posted ($0.83) earnings per share. Syndax Pharmaceuticals’s revenue was up 91.8% compared to the same quarter last year. On average, sell-side analysts expect that Syndax Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Michael A. Metzger sold 32,375 shares of the business’s stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Nicholas A.J. Botwood sold 34,280 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $18.00, for a total transaction of $617,040.00. Following the sale, the chief marketing officer directly owned 60,885 shares of the company’s stock, valued at approximately $1,095,930. This represents a 36.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 97,890 shares of company stock valued at $1,968,413. Insiders own 4.80% of the company’s stock.

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.