Bank of New York Mellon Corp Increases Stock Position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Bank of New York Mellon Corp raised its holdings in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 1.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 224,261 shares of the company’s stock after acquiring an additional 2,759 shares during the quarter. Bank of New York Mellon Corp’s holdings in Syndax Pharmaceuticals were worth $2,965,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. R Squared Ltd acquired a new stake in Syndax Pharmaceuticals during the 4th quarter valued at approximately $26,000. Quantbot Technologies LP acquired a new position in Syndax Pharmaceuticals in the third quarter valued at approximately $49,000. KBC Group NV grew its stake in Syndax Pharmaceuticals by 104.8% during 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 last quarter. Stifel Financial Corp acquired a new stake in shares of Syndax Pharmaceuticals in the 3rd quarter worth about $327,000. Finally, Quest Partners LLC raised its holdings in shares of Syndax Pharmaceuticals by 31.0% during the third quarter. Quest Partners LLC now owns 17,858 shares of the company’s stock valued at $344,000 after buying an additional 4,223 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have commented on SNDX. HC Wainwright reissued a “buy” rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. StockNews.com lowered Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. Citigroup decreased their target price on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Scotiabank cut their target price 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, JPMorgan Chase & Co. raised their price objective on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Syndax Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

Syndax Pharmaceuticals Price Performance

Shares of Syndax Pharmaceuticals stock opened at $14.10 on Friday. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -3.88 and a beta of 0.92. The stock has a 50-day simple moving average of $14.23 and a 200-day simple moving average of $16.16. Syndax Pharmaceuticals, Inc. has a 52-week low of $12.06 and a 52-week high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced 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 business had revenue of $7.68 million during the quarter, compared to the consensus estimate of $86.32 million. As a group, equities research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Neil Gallagher sold 4,618 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $15.50, for a total value of $71,579.00. Following the completion of the transaction, the insider now directly owns 85,095 shares of the company’s stock, valued at $1,318,972.50. This trade represents a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Keith A. Goldan sold 3,777 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $58,543.50. Following the completion of the sale, the chief financial officer now directly owns 90,746 shares in the company, valued at approximately $1,406,563. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,683 shares of company stock valued at $336,087. Insiders own 4.10% of the company’s stock.

About Syndax Pharmaceuticals

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).