Syndax Pharmaceuticals, Inc. $SNDX Shares Purchased by Candriam S.C.A.

Candriam S.C.A. boosted its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 49.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 675,085 shares of the company’s stock after acquiring an additional 224,650 shares during the quarter. Candriam S.C.A. owned 0.78% of Syndax Pharmaceuticals worth $6,322,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in shares of Syndax Pharmaceuticals by 2.5% during the 1st quarter. Bank of New York Mellon Corp now owns 229,758 shares of the company’s stock valued at $2,823,000 after purchasing an additional 5,497 shares in the last quarter. Cerity Partners LLC acquired a new stake in Syndax Pharmaceuticals during the first quarter valued at $295,000. CWM LLC increased its holdings in Syndax Pharmaceuticals by 795.2% in the first quarter. CWM LLC now owns 23,374 shares of the company’s stock valued at $287,000 after buying an additional 20,763 shares in the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group acquired a new position in shares of Syndax Pharmaceuticals in the first quarter worth about $2,457,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Syndax Pharmaceuticals in the first quarter worth about $179,000.

Syndax Pharmaceuticals Stock Performance

NASDAQ SNDX opened at $16.62 on Friday. The company has a debt-to-equity ratio of 2.06, a current ratio of 4.71 and a quick ratio of 4.55. The stock’s 50 day simple moving average is $15.28 and its 200-day simple moving average is $12.78. The company has a market cap of $1.44 billion, a PE ratio of -4.27 and a beta of 0.73. Syndax Pharmaceuticals, Inc. has a 1-year low of $8.58 and a 1-year high of $18.00.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.04. The firm had revenue of $45.87 million during the quarter, compared to the consensus estimate of $49.08 million. Syndax Pharmaceuticals had a negative return on equity of 130.47% and a negative net margin of 428.48%.The firm’s revenue was up 266.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.98) EPS. As a group, equities research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SNDX shares. JPMorgan Chase & Co. cut their price target on Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating for the company in a research note on Wednesday. UBS Group raised their price objective on Syndax Pharmaceuticals from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Thursday. Citigroup increased their target price on Syndax Pharmaceuticals from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Finally, The Goldman Sachs Group lifted their price target on shares of Syndax Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Syndax Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $35.90.

Insider Transactions at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 157,307 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $16.41, for a total value of $2,581,407.87. Following the completion of the sale, the chief executive officer owned 298,661 shares in the company, valued at approximately $4,901,027.01. This represents a 34.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dennis Podlesak sold 19,200 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $15.84, for a total transaction of $304,128.00. Following the completion of the transaction, the director directly owned 191,763 shares in the company, valued at $3,037,525.92. This trade represents a 9.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.10% of the stock is owned by corporate insiders.

About Syndax Pharmaceuticals

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).