Wellington Management Group LLP Reduces Stock Position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Wellington Management Group LLP cut its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,585,221 shares of the company’s stock after selling 57,225 shares during the period. Wellington Management Group LLP owned about 8.93% of Syndax Pharmaceuticals worth $163,917,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Syndax Pharmaceuticals by 13.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 577,022 shares of the company’s stock worth $12,469,000 after acquiring an additional 70,555 shares during the period. Trexquant Investment LP purchased a new position in Syndax Pharmaceuticals in the fourth quarter worth about $3,101,000. Hsbc Holdings PLC bought a new stake in shares of Syndax Pharmaceuticals during the 4th quarter valued at about $1,053,000. Point72 Asset Management L.P. increased its position in shares of Syndax Pharmaceuticals by 35.3% during the 4th quarter. Point72 Asset Management L.P. now owns 2,834,499 shares of the company’s stock valued at $61,254,000 after purchasing an additional 740,298 shares during the last quarter. Finally, BVF Inc. IL bought a new position in shares of Syndax Pharmaceuticals in the 4th quarter worth approximately $40,519,000.

Syndax Pharmaceuticals Stock Performance

Shares of NASDAQ SNDX opened at $19.06 on Thursday. The company has a market cap of $1.62 billion, a P/E ratio of -5.92 and a beta of 1.01. Syndax Pharmaceuticals, Inc. has a 52-week low of $11.22 and a 52-week high of $25.34. The firm’s fifty day moving average is $20.68 and its two-hundred day moving average is $21.37.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its earnings results on Wednesday, May 8th. The company reported ($0.85) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.96) by $0.11. During the same period in the prior year, the firm earned ($0.59) earnings per share. As a group, analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.56 EPS for the current fiscal year.

Analyst Ratings Changes

SNDX has been the subject of several recent research reports. Scotiabank lowered shares of Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 14th. HC Wainwright reaffirmed a “buy” rating and issued a $41.00 target price on shares of Syndax Pharmaceuticals in a report on Monday. Stifel Nicolaus lifted their target price on Syndax Pharmaceuticals from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $34.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 21st. Finally, Citigroup cut their price objective on Syndax Pharmaceuticals from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.42.

Insiders Place Their Bets

In other news, CFO Keith A. Goldan bought 1,250 shares of the stock in a transaction dated Friday, June 14th. The stock was purchased at an average cost of $20.03 per share, for a total transaction of $25,037.50. Following the transaction, the chief financial officer now owns 52,623 shares of the company’s stock, valued at $1,054,038.69. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 4.10% of the company’s stock.

Syndax Pharmaceuticals Profile

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).