Apis Capital Advisors LLC Takes $9.82 Million Position in Syndax Pharmaceuticals, Inc. $SNDX

Apis Capital Advisors LLC acquired a new position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 638,000 shares of the company’s stock, valued at approximately $9,816,000. Syndax Pharmaceuticals comprises 2.2% of Apis Capital Advisors LLC’s portfolio, making the stock its 17th biggest holding.

A number of other hedge funds have also recently made changes to their positions in SNDX. Vanguard Group Inc. increased its holdings in Syndax Pharmaceuticals by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,138,617 shares of the company’s stock valued at $79,058,000 after purchasing an additional 104,683 shares during the last quarter. Bank of America Corp DE lifted its stake in Syndax Pharmaceuticals by 33.7% during the second quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock worth $35,951,000 after purchasing an additional 967,873 shares in the last quarter. Franklin Resources Inc. lifted its stake in Syndax Pharmaceuticals by 1.3% during the third quarter. Franklin Resources Inc. now owns 2,390,561 shares of the company’s stock worth $36,779,000 after purchasing an additional 30,884 shares in the last quarter. Stempoint Capital LP boosted its position in shares of Syndax Pharmaceuticals by 48.4% during the second quarter. Stempoint Capital LP now owns 2,372,634 shares of the company’s stock worth $22,220,000 after buying an additional 774,040 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Syndax Pharmaceuticals by 1.3% during the second quarter. Geode Capital Management LLC now owns 2,049,350 shares of the company’s stock worth $19,195,000 after buying an additional 26,365 shares during the period.

Insider Activity

In related news, CEO Michael A. Metzger sold 17,159 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $21.03, for a total value of $360,853.77. Following the sale, the chief executive officer owned 491,690 shares of the company’s stock, valued at $10,340,240.70. This trade represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Keith A. Goldan sold 3,410 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $21.03, for a total transaction of $71,712.30. Following the completion of the transaction, the chief financial officer owned 140,429 shares of the company’s stock, valued at $2,953,221.87. This represents a 2.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,063 shares of company stock valued at $628,332 in the last quarter. Company insiders own 4.10% of the company’s stock.

Syndax Pharmaceuticals Trading Down 2.0%

NASDAQ:SNDX opened at $23.50 on Friday. The firm has a market cap of $2.07 billion, a PE ratio of -7.14 and a beta of 0.42. The stock has a fifty day moving average price of $21.18 and a 200 day moving average price of $18.55. Syndax Pharmaceuticals, Inc. has a 12-month low of $8.58 and a 12-month high of $25.16. The company has a current ratio of 4.40, a quick ratio of 4.12 and a debt-to-equity ratio of 5.32.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Thursday, February 26th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.14). The company had revenue of $68.73 million for the quarter, compared to analyst estimates of $64.75 million. Syndax Pharmaceuticals had a negative return on equity of 206.62% and a negative net margin of 165.37%.The company’s revenue for the quarter was up 792.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.10) earnings per share. Sell-side analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

SNDX has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Monday, December 29th. JPMorgan Chase & Co. raised their target price on Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, March 9th. Stifel Nicolaus set a $45.00 target price on Syndax Pharmaceuticals in a research report on Friday, February 27th. Citigroup boosted their price target on shares of Syndax Pharmaceuticals from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Finally, Barclays raised their price objective on shares of Syndax Pharmaceuticals from $22.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Syndax Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $39.10.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.