Signaturefd LLC Cuts Holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Signaturefd LLC lessened its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 45.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,078 shares of the company’s stock after selling 1,745 shares during the quarter. Signaturefd LLC’s holdings in Syndax Pharmaceuticals were worth $27,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Assenagon Asset Management S.A. raised its stake in Syndax Pharmaceuticals by 343.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,064,456 shares of the company’s stock valued at $27,292,000 after buying an additional 1,598,428 shares in the last quarter. Eventide Asset Management LLC purchased a new position in shares of Syndax Pharmaceuticals in the 3rd quarter valued at about $15,150,000. Sphera Funds Management LTD. increased its holdings in shares of Syndax Pharmaceuticals by 25.9% in the 3rd quarter. Sphera Funds Management LTD. now owns 1,034,846 shares of the company’s stock valued at $19,921,000 after acquiring an additional 212,799 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Syndax Pharmaceuticals by 13.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock worth $34,948,000 after acquiring an additional 208,043 shares in the last quarter. Finally, State Street Corp lifted its stake in Syndax Pharmaceuticals by 4.1% during the third quarter. State Street Corp now owns 3,770,826 shares of the company’s stock worth $72,588,000 after purchasing an additional 148,491 shares during the last quarter.

Syndax Pharmaceuticals Stock Performance

NASDAQ SNDX opened at $13.44 on Wednesday. The firm’s fifty day moving average is $14.28 and its two-hundred day moving average is $15.98. Syndax Pharmaceuticals, Inc. has a one year low of $12.06 and a one year high of $25.07. The firm has a market cap of $1.16 billion, a PE ratio of -3.70 and a beta of 0.92.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.79). The company had revenue of $7.68 million during the quarter, compared to analysts’ expectations of $86.32 million. Research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Insider Transactions at Syndax Pharmaceuticals

In other news, CFO Keith A. Goldan sold 3,777 shares of Syndax Pharmaceuticals stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $58,543.50. Following the sale, the chief financial officer now owns 90,746 shares of the company’s stock, valued at $1,406,563. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Neil Gallagher sold 4,618 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction of $71,579.00. Following the transaction, the insider now directly owns 85,095 shares of the company’s stock, valued at $1,318,972.50. This represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,683 shares of company stock worth $336,087 over the last 90 days. 4.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Scotiabank dropped their price target on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 8th. Citigroup dropped their target price on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. HC Wainwright reissued a “buy” rating and issued a $51.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Syndax Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

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).