Wellington Management Group LLP Trims Stock Holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Wellington Management Group LLP lessened its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 15.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,234,455 shares of the company’s stock after selling 751,521 shares during the quarter. Wellington Management Group LLP owned 4.96% of Syndax Pharmaceuticals worth $55,979,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Syndax Pharmaceuticals during the 4th quarter worth approximately $26,000. Quantbot Technologies LP acquired a new stake in shares of Syndax Pharmaceuticals in the third quarter valued at $49,000. Cape Investment Advisory Inc. lifted its stake in Syndax Pharmaceuticals by 157.1% during the 4th quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company’s stock worth $85,000 after acquiring an additional 3,927 shares in the last quarter. KBC Group NV boosted its holdings in Syndax Pharmaceuticals by 104.8% during the 4th quarter. KBC Group NV now owns 6,954 shares of the company’s stock valued at $92,000 after acquiring an additional 3,559 shares during the period. Finally, E Fund Management Co. Ltd. increased its stake in Syndax Pharmaceuticals by 14.4% during the fourth 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 during the period.

Insider Transactions at Syndax Pharmaceuticals

In other news, CEO Michael A. Metzger sold 13,288 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $205,964.00. Following the transaction, the chief executive officer now directly owns 300,121 shares in the company, valued at approximately $4,651,875.50. This trade represents a 4.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Neil Gallagher sold 4,618 shares of Syndax Pharmaceuticals 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 completion of the transaction, the insider now directly owns 85,095 shares in the company, valued at $1,318,972.50. The trade was a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,683 shares of company stock worth $336,087. Corporate insiders own 4.10% of the company’s stock.

Syndax Pharmaceuticals Stock Down 9.7 %

Shares of Syndax Pharmaceuticals stock opened at $11.25 on Friday. Syndax Pharmaceuticals, Inc. has a 52 week low of $11.09 and a 52 week high of $25.07. The firm’s 50 day moving average is $14.13 and its two-hundred day moving average is $15.67. The firm has a market capitalization of $967.77 million, a P/E ratio of -3.10 and a beta of 0.92.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of Syndax Pharmaceuticals to a “sell” rating in a report on Wednesday. HC Wainwright restated a “buy” rating and issued a $51.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. Citigroup reduced their price objective on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Scotiabank lowered 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. Finally, JPMorgan Chase & Co. upped their price target on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. One 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 MarketBeat.com, the company 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).