Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. boosted its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,766,859 shares of the company’s stock after purchasing an additional 3,582 shares during the period. Franklin Resources Inc. owned approximately 2.07% of Syndax Pharmaceuticals worth $23,358,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SNDX. Assenagon Asset Management S.A. increased its position in shares of Syndax Pharmaceuticals by 343.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,064,456 shares of the company’s stock valued at $27,292,000 after acquiring an additional 1,598,428 shares during the period. State Street Corp grew its stake in Syndax Pharmaceuticals by 4.1% during the 3rd quarter. State Street Corp now owns 3,770,826 shares of the company’s stock valued at $72,588,000 after purchasing an additional 148,491 shares during the last quarter. Barclays PLC increased its holdings in shares of Syndax Pharmaceuticals by 143.4% in the third quarter. Barclays PLC now owns 187,629 shares of the company’s stock valued at $3,612,000 after purchasing an additional 110,535 shares during the period. abrdn plc purchased a new position in shares of Syndax Pharmaceuticals in the fourth quarter worth about $1,313,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Syndax Pharmaceuticals by 3.5% during the third quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company’s stock worth $38,066,000 after purchasing an additional 66,459 shares during the period.

Insider Activity at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, insider Neil Gallagher sold 4,618 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $71,579.00. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael A. Metzger sold 13,288 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 transaction of $205,964.00. Following the sale, 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. In the last quarter, insiders have sold 21,683 shares of company stock valued at $336,087. 4.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SNDX shares. HC Wainwright reissued a “buy” rating and set a $51.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. StockNews.com raised shares of Syndax Pharmaceuticals to a “sell” rating in a report on Wednesday, April 2nd. Scotiabank lowered 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 report on Wednesday, January 8th. JPMorgan Chase & Co. increased their price target on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Finally, Citigroup decreased their price objective on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Syndax Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $36.20.

Syndax Pharmaceuticals Stock Down 9.7 %

Shares of Syndax Pharmaceuticals stock opened at $11.25 on Monday. The firm 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 twelve month low of $11.09 and a twelve month high of $25.07. The business has a 50-day moving average price of $14.13 and a 200 day moving average price of $15.65.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data 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. On average, sell-side analysts expect that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

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).