Prosight Management LP Sells 76,273 Shares of Syndax Pharmaceuticals, Inc. $SNDX

Prosight Management LP decreased its holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 7.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,003,400 shares of the company’s stock after selling 76,273 shares during the quarter. Syndax Pharmaceuticals makes up approximately 3.6% of Prosight Management LP’s holdings, making the stock its 9th largest holding. Prosight Management LP’s holdings in Syndax Pharmaceuticals were worth $15,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of Syndax Pharmaceuticals by 478.8% during the 1st quarter. AQR Capital Management LLC now owns 377,444 shares of the company’s stock worth $4,637,000 after acquiring an additional 312,231 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Syndax Pharmaceuticals by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,842 shares of the company’s stock valued at $705,000 after purchasing an additional 3,094 shares during the period. Caxton Associates LLP acquired a new position in Syndax Pharmaceuticals during the first quarter worth approximately $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Syndax Pharmaceuticals by 18.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 200,696 shares of the company’s stock worth $2,466,000 after purchasing an additional 30,596 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Syndax Pharmaceuticals during the second quarter worth approximately $172,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Monday, December 29th. Barclays increased their target price on Syndax Pharmaceuticals from $22.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. JPMorgan Chase & Co. boosted their price target on Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, March 9th. Finally, Citigroup upped their price target on Syndax Pharmaceuticals from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Syndax Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $39.10.

Syndax Pharmaceuticals Trading Down 2.0%

Shares of SNDX stock opened at $23.50 on Friday. The company has a quick ratio of 4.12, a current ratio of 4.40 and a debt-to-equity ratio of 5.32. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $8.58 and a fifty-two week high of $25.16. The firm’s 50 day moving average price is $21.18 and its two-hundred day moving average price is $18.53. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -7.14 and a beta of 0.42.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.14). Syndax Pharmaceuticals had a negative return on equity of 206.62% and a negative net margin of 165.37%.The business had revenue of $68.73 million during the quarter, compared to analyst estimates of $64.75 million. During the same period in the previous year, the company earned ($1.10) EPS. Syndax Pharmaceuticals’s revenue was up 792.6% on a year-over-year basis. On average, analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Insiders Place Their Bets

In other Syndax Pharmaceuticals news, CFO Keith A. Goldan sold 3,410 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $21.03, for a total value of $71,712.30. Following the transaction, the chief financial officer directly owned 140,429 shares of the company’s stock, valued at $2,953,221.87. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael A. Metzger sold 17,159 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $21.03, for a total value of $360,853.77. Following the transaction, the chief executive officer owned 491,690 shares in the company, valued at approximately $10,340,240.70. This represents a 3.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 30,063 shares of company stock valued at $628,332. 4.10% of the stock is owned by corporate insiders.

About Syndax Pharmaceuticals

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.