Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Shares Sold by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB cut its position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 10.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 232,000 shares of the company's stock after selling 27,500 shares during the quarter. Rhenman & Partners Asset Management AB owned about 0.27% of Syndax Pharmaceuticals worth $3,067,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SNDX. R Squared Ltd bought a new stake in Syndax Pharmaceuticals in the 4th quarter valued at about $26,000. Quantbot Technologies LP bought a new stake in shares of Syndax Pharmaceuticals in the third quarter valued at approximately $49,000. Cape Investment Advisory Inc. lifted its stake in shares of Syndax Pharmaceuticals by 157.1% during the 4th quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company's stock valued at $85,000 after buying an additional 3,927 shares in the last quarter. KBC Group NV boosted its holdings in Syndax Pharmaceuticals by 104.8% in the 4th quarter. KBC Group NV now owns 6,954 shares of the company's stock worth $92,000 after buying an additional 3,559 shares during the period. Finally, E Fund Management Co. Ltd. boosted its holdings in Syndax Pharmaceuticals by 14.4% in the 4th quarter. E Fund Management Co. Ltd. now owns 12,603 shares of the company's stock worth $167,000 after buying an additional 1,583 shares during the period.

Syndax Pharmaceuticals Stock Down 11.9 %

Shares of NASDAQ:SNDX traded down $1.37 during midday trading on Thursday, reaching $10.15. The company's stock had a trading volume of 2,849,811 shares, compared to its average volume of 1,555,909. The firm has a market capitalization of $873.35 million, a P/E ratio of -2.79 and a beta of 1.28. Syndax Pharmaceuticals, Inc. has a 12-month low of $9.66 and a 12-month high of $25.07. The firm has a 50 day moving average of $13.81 and a 200-day moving average of $15.43.

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Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last issued its earnings results on Monday, March 3rd. The company reported ($1.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.79). The business had revenue of $7.68 million during the quarter, compared to analyst estimates of $86.32 million. On average, research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SNDX. JPMorgan Chase & Co. increased their target price on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. Scotiabank cut their target price on Syndax Pharmaceuticals from $18.00 to $16.00 and set a "sector perform" rating for the company in a research note on Wednesday, January 8th. StockNews.com upgraded Syndax Pharmaceuticals to a "sell" rating in a research report on Thursday. HC Wainwright restated a "buy" rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. Finally, Citigroup dropped their price objective on Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Syndax Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $36.20.

Insider Activity

In other Syndax Pharmaceuticals news, CFO Keith A. Goldan sold 3,777 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $58,543.50. Following the completion of the sale, the chief financial officer now owns 90,746 shares of the company's stock, valued at $1,406,563. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael A. Metzger sold 13,288 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction of $205,964.00. Following the completion of the transaction, the chief executive officer now owns 300,121 shares in the company, valued at approximately $4,651,875.50. The trade was a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,683 shares of company stock worth $336,087 in the last three months. Company insiders own 4.10% of the company's stock.

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).