Healthcare of Ontario Pension Plan Trust Fund Boosts Stake in Syndax Pharmaceuticals, Inc. $SNDX

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDXFree Report) by 141.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 331,665 shares of the company’s stock after acquiring an additional 194,036 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Syndax Pharmaceuticals were worth $7,748,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Hsbc Holdings PLC increased its position in shares of Syndax Pharmaceuticals by 3.2% during the first quarter. Hsbc Holdings PLC now owns 23,461 shares of the company’s stock worth $556,000 after acquiring an additional 730 shares during the last quarter. Pallas Capital Advisors LLC boosted its holdings in Syndax Pharmaceuticals by 8.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 10,985 shares of the company’s stock valued at $231,000 after purchasing an additional 875 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Syndax Pharmaceuticals by 26.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock valued at $89,000 after purchasing an additional 893 shares in the last quarter. Schroder Investment Management Group grew its stake in Syndax Pharmaceuticals by 1.0% during the 3rd quarter. Schroder Investment Management Group now owns 123,404 shares of the company’s stock valued at $1,920,000 after purchasing an additional 1,241 shares in the last quarter. Finally, Verition Fund Management LLC increased its holdings in Syndax Pharmaceuticals by 7.5% during the 4th quarter. Verition Fund Management LLC now owns 18,460 shares of the company’s stock worth $388,000 after purchasing an additional 1,281 shares during the last quarter.

Insiders Place Their Bets

In other Syndax Pharmaceuticals news, CMO Nicholas A.J. Botwood sold 31,235 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $18.14, for a total value of $566,602.90. Following the sale, the chief marketing officer directly owned 60,885 shares in the company, valued at approximately $1,104,453.90. This trade represents a 33.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael A. Metzger sold 32,375 shares of the business’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $24.24, for a total transaction of $784,770.00. Following the transaction, the chief executive officer directly owned 484,843 shares of the company’s stock, valued at approximately $11,752,594.32. This trade represents a 6.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 105,914 shares of company stock worth $2,120,789 over the last quarter. 4.80% of the stock is currently owned by company insiders.

Syndax Pharmaceuticals Stock Down 2.1%

Shares of Syndax Pharmaceuticals stock opened at $19.22 on Thursday. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -6.89 and a beta of 0.37. Syndax Pharmaceuticals, Inc. has a twelve month low of $9.49 and a twelve month high of $25.59. The company has a current ratio of 5.47, a quick ratio of 5.06 and a debt-to-equity ratio of 8.26. The business’s 50 day simple moving average is $20.46 and its 200-day simple moving average is $21.43.

Syndax Pharmaceuticals (NASDAQ:SNDXGet Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.11. The business had revenue of $64.86 million during the quarter, compared to analyst estimates of $69.76 million. Syndax Pharmaceuticals had a negative return on equity of 256.65% and a negative net margin of 111.88%.The business’s revenue for the quarter was up 224.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.98) EPS. Equities research analysts forecast that Syndax Pharmaceuticals, Inc. will post -1.65 earnings per share for the current year.

Analysts Set New Price Targets

SNDX has been the subject of several research analyst reports. Weiss Ratings cut Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. The Goldman Sachs Group lifted their price target on shares of Syndax Pharmaceuticals from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of Syndax Pharmaceuticals in a report on Wednesday, July 15th. Barclays increased their price objective on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, UBS Group reissued a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.55.

Read Our Latest Report on SNDX

Syndax Pharmaceuticals Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Syndax Pharmaceuticals (NASDAQ:SNDX)

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