Syndax Pharmaceuticals, Inc. $SNDX Shares Bought by Inspire Investing LLC

Inspire Investing LLC raised its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 53.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,923 shares of the company’s stock after acquiring an additional 15,025 shares during the quarter. Inspire Investing LLC’s holdings in Syndax Pharmaceuticals were worth $402,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SNDX. Rhumbline Advisers raised its holdings in shares of Syndax Pharmaceuticals by 6.5% in the first quarter. Rhumbline Advisers now owns 120,810 shares of the company’s stock worth $1,484,000 after acquiring an additional 7,361 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Syndax Pharmaceuticals in the first quarter valued at $162,000. Bank of New York Mellon Corp increased its stake in Syndax Pharmaceuticals by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 229,758 shares of the company’s stock valued at $2,823,000 after purchasing an additional 5,497 shares during the last quarter. Cerity Partners LLC acquired a new position in Syndax Pharmaceuticals in the first quarter valued at $295,000. Finally, CWM LLC increased its stake in Syndax Pharmaceuticals by 795.2% in the first quarter. CWM LLC now owns 23,374 shares of the company’s stock valued at $287,000 after purchasing an additional 20,763 shares during the last quarter.

Insider Activity

In other news, CEO Michael A. Metzger sold 157,307 shares of the company’s stock in a transaction dated 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 owned 298,661 shares of the company’s stock, valued at $4,901,027.01. This represents a 34.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis Podlesak sold 19,200 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $15.84, for a total value of $304,128.00. Following the completion of the sale, the director directly owned 191,763 shares of the company’s stock, valued at $3,037,525.92. The trade was a 9.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 204,537 shares of company stock valued at $3,265,935 in the last ninety days. Company insiders own 4.10% of the company’s stock.

Syndax Pharmaceuticals Price Performance

SNDX stock opened at $15.20 on Tuesday. The stock has a 50-day moving average price of $15.34 and a two-hundred day moving average price of $12.27. Syndax Pharmaceuticals, Inc. has a 12-month low of $8.58 and a 12-month high of $22.50. The company has a current ratio of 4.71, a quick ratio of 4.55 and a debt-to-equity ratio of 2.06. The company has a market cap of $1.31 billion, a PE ratio of -3.91 and a beta of 0.68.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings results on Monday, August 4th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.01) by $0.18. Syndax Pharmaceuticals had a negative return on equity of 130.47% and a negative net margin of 428.48%.The firm had revenue of $37.96 million during the quarter, compared to the consensus estimate of $26.64 million. During the same quarter in the previous year, the business earned ($0.80) earnings per share. The firm’s quarterly revenue was up 984.5% compared to the same quarter last year. As a group, research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Wall Street Analyst Weigh In

SNDX has been the subject of several analyst reports. UBS Group dropped their target price on Syndax Pharmaceuticals from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, July 15th. BTIG Research reiterated a “buy” rating and issued a $56.00 target price on shares of Syndax Pharmaceuticals in a research note on Friday, September 19th. Guggenheim initiated coverage on Syndax Pharmaceuticals in a research note on Thursday, September 4th. They issued a “buy” rating and a $34.00 target price for the company. The Goldman Sachs Group upped their target price on Syndax Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Finally, Citigroup upped their target price on Syndax Pharmaceuticals from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $39.22.

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).