Bank of America Corp DE trimmed its holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX – Free Report) by 9.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,249,836 shares of the company’s stock after selling 460,910 shares during the period. Bank of America Corp DE’s holdings in Syndax Pharmaceuticals were worth $99,276,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Elmind Capital LP acquired a new stake in shares of Syndax Pharmaceuticals during the fourth quarter worth approximately $38,974,000. Vanguard Group Inc. raised its holdings in Syndax Pharmaceuticals by 21.2% in the fourth quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock valued at $130,899,000 after acquiring an additional 1,091,717 shares in the last quarter. Orbimed Advisors LLC acquired a new position in Syndax Pharmaceuticals during the 1st quarter worth $22,479,000. Qube Research & Technologies Ltd grew its holdings in Syndax Pharmaceuticals by 99.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,665,916 shares of the company’s stock worth $15,601,000 after acquiring an additional 831,067 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Syndax Pharmaceuticals by 126.8% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,432,440 shares of the company’s stock worth $13,415,000 after purchasing an additional 800,800 shares during the last quarter.
Insider Buying and Selling at Syndax Pharmaceuticals
In other Syndax Pharmaceuticals news, CMO Nicholas A.J. Botwood sold 31,235 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were 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. The trade was a 33.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael A. Metzger sold 32,375 shares of the stock in a transaction on 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 of the company’s stock, valued at $11,752,594.32. This trade represents a 6.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 105,914 shares of company stock valued at $2,120,789. Insiders own 4.80% of the company’s stock.
Syndax Pharmaceuticals News Summary
- Positive Sentiment: HC Wainwright reaffirmed its Buy rating and $38 price objective, indicating substantial potential upside if Syndax’s pipeline and commercial outlook develop as expected. HC Wainwright Issues Pessimistic Forecast for Syndax Pharmaceuticals
- Neutral Sentiment: The analyst still projects a transition to profitability, forecasting positive EPS of $0.84 in FY2028, $2.28 in FY2029 and $3.16 in FY2030, although those estimates were reduced from previous forecasts.
- Negative Sentiment: HC Wainwright cut its FY2026 EPS forecast to a loss of $1.92 from a loss of $1.16, and lowered its Q3 and Q4 2026 estimates to losses of $0.48 and $0.40 per share, respectively.
- Negative Sentiment: The firm reduced its FY2027 EPS forecast to a loss of $0.41 from a loss of $0.13, suggesting Syndax may remain unprofitable longer than previously expected.
- Negative Sentiment: Longer-term projections were also trimmed: FY2028 EPS fell to $0.84 from $1.17, FY2029 to $2.28 from $2.59, and FY2030 to $3.16 from $3.52. The broad reductions point to more cautious expectations for the company’s earnings trajectory.
Syndax Pharmaceuticals Stock Up 3.2%
Shares of Syndax Pharmaceuticals stock opened at $20.40 on Friday. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -8.13 and a beta of 0.40. Syndax Pharmaceuticals, Inc. has a twelve month low of $12.10 and a twelve month high of $25.59. The company has a current ratio of 6.77, a quick ratio of 5.06 and a debt-to-equity ratio of 38.95. The business’s 50 day simple moving average is $20.43 and its 200-day simple moving average is $21.36.
Syndax Pharmaceuticals (NASDAQ:SNDX – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.10). Syndax Pharmaceuticals had a negative return on equity of 372.94% and a negative net margin of 87.52%.The company had revenue of $72.79 million for the quarter, compared to the consensus estimate of $79.36 million. During the same quarter in the previous year, the company earned ($0.83) earnings per share. Syndax Pharmaceuticals’s quarterly revenue was up 91.8% compared to the same quarter last year. Equities research analysts forecast that Syndax Pharmaceuticals, Inc. will post -1.87 earnings per share for the current year.
Analyst Upgrades and Downgrades
SNDX has been the topic of several research analyst reports. UBS Group reaffirmed a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Friday, June 12th. Bank of America reissued a “buy” rating on shares of Syndax Pharmaceuticals in a report on Wednesday. Weiss Ratings downgraded Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Barclays lifted their target price on Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Finally, HC Wainwright decreased their price objective on shares of Syndax Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $42.36.
Read Our Latest 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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