Renaissance Technologies LLC decreased its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX – Free Report) by 8.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 498,200 shares of the company’s stock after selling 46,600 shares during the period. Renaissance Technologies LLC owned approximately 0.56% of Syndax Pharmaceuticals worth $11,638,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Knott David M Jr raised its holdings in shares of Syndax Pharmaceuticals by 1.7% during the 1st quarter. Knott David M Jr now owns 422,000 shares of the company’s stock valued at $9,858,000 after buying an additional 7,000 shares during the period. Sei Investments Co. grew its position in Syndax Pharmaceuticals by 36.3% in the first quarter. Sei Investments Co. now owns 217,600 shares of the company’s stock valued at $5,083,000 after acquiring an additional 57,962 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Syndax Pharmaceuticals by 11.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 19,564 shares of the company’s stock valued at $467,000 after purchasing an additional 2,002 shares during the period. Bleakley Financial Group LLC purchased a new stake in shares of Syndax Pharmaceuticals during the first quarter valued at approximately $292,000. Finally, Torray Investment Partners LLC boosted its stake in shares of Syndax Pharmaceuticals by 7.2% in the first quarter. Torray Investment Partners LLC now owns 104,868 shares of the company’s stock valued at $2,450,000 after purchasing an additional 7,066 shares during the period.
Insider Activity
In other news, CEO Michael A. Metzger sold 32,375 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $24.24, for a total value of $784,770.00. Following the sale, the chief executive officer owned 484,843 shares in the company, valued at approximately $11,752,594.32. This represents a 6.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Nicholas A.J. Botwood sold 31,235 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $18.14, for a total transaction of $566,602.90. Following the transaction, the chief marketing officer directly owned 60,885 shares in the company, valued at $1,104,453.90. The trade was a 33.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 105,914 shares of company stock valued at $2,120,789 in the last three months. Insiders own 4.80% of the company’s stock.
Syndax Pharmaceuticals Stock Down 2.2%
Syndax Pharmaceuticals (NASDAQ:SNDX – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.11. The firm had revenue of $64.86 million for the quarter, compared to the consensus estimate of $69.76 million. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. The firm’s revenue was up 224.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.98) EPS. On average, equities research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -1.65 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on SNDX. Barclays lifted their price target on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of Syndax Pharmaceuticals in a research report on Wednesday, July 15th. UBS Group reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Friday, June 12th. Finally, Weiss Ratings downgraded Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Syndax Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $42.55.
Read Our Latest Research Report on SNDX
Syndax Pharmaceuticals Profile
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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