Trails Edge Capital Partners LP Purchases New Shares in Syndax Pharmaceuticals, Inc. $SNDX

Trails Edge Capital Partners LP purchased a new position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,110,000 shares of the company’s stock, valued at approximately $24,264,600. Syndax Pharmaceuticals accounts for about 0.0% of Trails Edge Capital Partners LP’s investment portfolio, making the stock its 12th largest position. Trails Edge Capital Partners LP owned approximately 1.25% of Syndax Pharmaceuticals at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP bought a new stake in shares of Syndax Pharmaceuticals during the 2nd quarter worth about $26,000. Larson Financial Group LLC grew its stake in shares of Syndax Pharmaceuticals by 192.2% during the third quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock worth $45,000 after buying an additional 1,922 shares during the last quarter. Quantbot Technologies LP bought a new position in Syndax Pharmaceuticals during the third quarter worth $53,000. Smartleaf Asset Management LLC increased its stake in Syndax Pharmaceuticals by 2,698.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock valued at $55,000 after buying an additional 2,564 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in Syndax Pharmaceuticals in the 2nd quarter worth about $66,000.

Analyst Ratings Changes

Several research firms recently commented on SNDX. JPMorgan Chase & Co. reduced their price objective on Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. HC Wainwright cut their price objective on shares of Syndax Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Bank of America reissued a “buy” rating on shares of Syndax Pharmaceuticals in a report on Wednesday, August 5th. Weiss Ratings upgraded Syndax Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Finally, Barclays lifted their price objective on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.55.

Insider Activity

In related news, CEO Michael A. Metzger sold 32,375 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $24.24, for a total transaction of $784,770.00. Following the transaction, the chief executive officer owned 484,843 shares of the company’s stock, valued at approximately $11,752,594.32. This represents a 6.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Nicholas A.J. Botwood sold 31,235 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $18.14, for a total value of $566,602.90. Following the completion of the sale, the chief marketing officer directly owned 60,885 shares in the company, valued at $1,104,453.90. This represents a 33.91% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 105,914 shares of company stock valued at $2,120,789. 4.80% of the stock is owned by corporate insiders.

Syndax Pharmaceuticals Stock Down 3.1%

SNDX traded down $0.62 during trading on Friday, hitting $19.54. 1,042,312 shares of the company’s stock were exchanged, compared to its average volume of 1,575,336. The company has a quick ratio of 6.44, a current ratio of 6.77 and a debt-to-equity ratio of 38.95. The stock has a market cap of $1.73 billion, a P/E ratio of -7.78 and a beta of 0.40. The business’s 50 day moving average is $20.92 and its two-hundred day moving average is $21.29. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $12.99 and a fifty-two week high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.10). The firm had revenue of $72.79 million for the quarter, compared to the consensus estimate of $79.36 million. Syndax Pharmaceuticals had a negative net margin of 87.52% and a negative return on equity of 372.94%. The business’s revenue was up 91.8% on a year-over-year basis. During the same period last year, the company posted ($0.83) earnings per share. As a group, equities analysts expect that Syndax Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.

Syndax Pharmaceuticals 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.