Rhenman & Partners Asset Management AB Sells 27,500 Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Rhenman & Partners Asset Management AB cut its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 10.6% in the fourth quarter, according to the company in its most recent disclosure with the 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 approximately 0.27% of Syndax Pharmaceuticals worth $3,067,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. E Fund Management Co. Ltd. increased its position in shares of Syndax Pharmaceuticals by 14.4% during the 4th quarter. E Fund Management Co. Ltd. now owns 12,603 shares of the company’s stock worth $167,000 after purchasing an additional 1,583 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Syndax Pharmaceuticals by 10.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,099 shares of the company’s stock worth $239,000 after buying an additional 1,732 shares in the last quarter. R Squared Ltd bought a new position in shares of Syndax Pharmaceuticals in the fourth quarter valued at approximately $26,000. Y Intercept Hong Kong Ltd boosted its holdings in shares of Syndax Pharmaceuticals by 2.5% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 83,297 shares of the company’s stock worth $1,101,000 after acquiring an additional 1,995 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Syndax Pharmaceuticals in the 3rd quarter worth approximately $49,000.

Syndax Pharmaceuticals Stock Down 9.7 %

Shares of Syndax Pharmaceuticals stock opened at $11.25 on Friday. The business has a fifty day simple moving average of $14.13 and a 200 day simple moving average of $15.68. The stock has a market cap of $967.77 million, a PE ratio of -3.10 and a beta of 0.92. Syndax Pharmaceuticals, Inc. has a 12 month low of $11.09 and a 12 month high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Monday, March 3rd. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.79). The firm had revenue of $7.68 million during the quarter, compared to the consensus estimate of $86.32 million. Analysts expect that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Insider Buying and Selling at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, insider Neil Gallagher sold 4,618 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 $71,579.00. Following the completion of the transaction, the insider now directly owns 85,095 shares of the company’s stock, valued at approximately $1,318,972.50. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith A. Goldan sold 3,777 shares of the 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,683 shares of company stock valued at $336,087. Corporate insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

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

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).