Axiom Investors LLC DE Reduces Stock Position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Axiom Investors LLC DE trimmed its position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 54.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,224 shares of the company’s stock after selling 62,418 shares during the period. Axiom Investors LLC DE owned about 0.06% of Syndax Pharmaceuticals worth $704,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Franklin Resources Inc. lifted its stake in shares of Syndax Pharmaceuticals by 13.4% during the third quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock valued at $34,948,000 after buying an additional 208,043 shares during the period. State Street Corp lifted its stake in shares of Syndax Pharmaceuticals by 4.1% during the 3rd quarter. State Street Corp now owns 3,770,826 shares of the company’s stock worth $72,588,000 after purchasing an additional 148,491 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Syndax Pharmaceuticals by 6.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 695,947 shares of the company’s stock worth $13,397,000 after purchasing an additional 41,458 shares during the period. Barclays PLC boosted its holdings in shares of Syndax Pharmaceuticals by 143.4% during the third quarter. Barclays PLC now owns 187,629 shares of the company’s stock worth $3,612,000 after purchasing an additional 110,535 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in shares of Syndax Pharmaceuticals by 319.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 81,302 shares of the company’s stock valued at $1,565,000 after purchasing an additional 61,916 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SNDX shares. Citigroup decreased their price target on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. JPMorgan Chase & Co. boosted their target price on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Scotiabank cut their price target on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $51.00 price target on shares of Syndax Pharmaceuticals in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.20.

Syndax Pharmaceuticals Price Performance

Shares of SNDX opened at $12.28 on Tuesday. Syndax Pharmaceuticals, Inc. has a 12 month low of $12.06 and a 12 month high of $25.07. The stock’s 50-day moving average is $14.28 and its two-hundred day moving average is $15.82. The stock has a market cap of $1.06 billion, a PE ratio of -3.38 and a beta of 0.92.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Monday, March 3rd. The company reported ($1.10) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.79). The company had revenue of $7.68 million during the quarter, compared to analysts’ expectations of $86.32 million. On average, research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Insider Activity

In related news, CFO Keith A. Goldan sold 3,777 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $15.50, for a total value of $58,543.50. Following the transaction, the chief financial officer now owns 90,746 shares in the company, valued at approximately $1,406,563. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael A. Metzger sold 13,288 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $205,964.00. Following the completion of the transaction, the chief executive officer now directly owns 300,121 shares of the company’s stock, valued at $4,651,875.50. This represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,683 shares of company stock worth $336,087. 4.10% of the stock is currently owned by company insiders.

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).