Virtus Investment Advisers LLC Has $83,000 Stake in Syndax Pharmaceuticals, Inc. $SNDX

Virtus Investment Advisers LLC lowered its position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 27.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,813 shares of the company’s stock after selling 3,379 shares during the quarter. Virtus Investment Advisers LLC’s holdings in Syndax Pharmaceuticals were worth $83,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC raised its holdings in shares of Syndax Pharmaceuticals by 112.4% in the 2nd quarter. Hsbc Holdings PLC now owns 106,787 shares of the company’s stock valued at $966,000 after purchasing an additional 56,512 shares during the period. Capital Fund Management S.A. acquired a new position in Syndax Pharmaceuticals during the second quarter worth approximately $1,670,000. Russell Investments Group Ltd. increased its position in Syndax Pharmaceuticals by 7.3% during the second quarter. Russell Investments Group Ltd. now owns 126,158 shares of the company’s stock worth $1,181,000 after buying an additional 8,545 shares during the last quarter. Rhenman & Partners Asset Management AB raised its stake in Syndax Pharmaceuticals by 32.6% in the second quarter. Rhenman & Partners Asset Management AB now owns 574,000 shares of the company’s stock valued at $5,376,000 after buying an additional 141,000 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in shares of Syndax Pharmaceuticals in the second quarter valued at approximately $97,000.

Analysts Set New Price Targets

SNDX has been the topic of a number of recent analyst reports. Stifel Nicolaus started coverage on Syndax Pharmaceuticals in a report on Wednesday, September 10th. They set a “buy” rating and a $44.00 target price on the stock. BTIG Research reaffirmed a “buy” rating and set a $56.00 price target on shares of Syndax Pharmaceuticals in a report on Monday, October 27th. B. Riley raised shares of Syndax Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, August 6th. Guggenheim initiated coverage on shares of Syndax Pharmaceuticals in a research report on Thursday, September 4th. They issued a “buy” rating and a $34.00 price objective on the stock. Finally, Barclays raised their target price on shares of Syndax Pharmaceuticals from $22.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.20.

Syndax Pharmaceuticals Trading Up 1.3%

SNDX stock opened at $20.12 on Monday. Syndax Pharmaceuticals, Inc. has a 52 week low of $8.58 and a 52 week high of $20.20. The company has a market capitalization of $1.75 billion, a PE ratio of -5.17 and a beta of 0.73. The company’s 50-day simple moving average is $15.85 and its 200 day simple moving average is $13.26. The company has a debt-to-equity ratio of 2.06, a quick ratio of 4.55 and a current ratio of 4.71.

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

Insider Buying and Selling at Syndax Pharmaceuticals

In related news, CEO Michael A. Metzger sold 157,307 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was 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 directly owned 298,661 shares in the company, valued at approximately $4,901,027.01. The trade was a 34.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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).