Elmind Capital LP Invests $40.55 Billion in Syndax Pharmaceuticals, Inc. $SNDX

Elmind Capital LP bought a new stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,855,000 shares of the company’s stock, valued at approximately $40,550,300,000. Syndax Pharmaceuticals accounts for about 10.2% of Elmind Capital LP’s portfolio, making the stock its 2nd largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in SNDX. Allworth Financial LP acquired a new stake in Syndax Pharmaceuticals in the 2nd quarter valued at $26,000. Smartleaf Asset Management LLC boosted its position in shares of Syndax Pharmaceuticals by 2,698.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock worth $55,000 after buying an additional 2,564 shares during the period. Larson Financial Group LLC boosted its position in shares of Syndax Pharmaceuticals by 192.2% in 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 period. Quantbot Technologies LP purchased a new stake in shares of Syndax Pharmaceuticals in the third quarter worth about $53,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Syndax Pharmaceuticals by 26.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock valued at $89,000 after buying an additional 893 shares in the last quarter.

Insider Activity at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CMO Nicholas A.J. Botwood sold 31,235 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $18.14, for a total value of $566,602.90. Following the transaction, the chief marketing officer directly owned 60,885 shares of the company’s stock, valued at $1,104,453.90. This represents a 33.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael A. Metzger sold 32,375 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $24.24, for a total value of $784,770.00. Following the completion of the transaction, the chief executive officer directly owned 484,843 shares in the company, valued at approximately $11,752,594.32. The trade was a 6.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 105,914 shares of company stock worth $2,120,789 over the last 90 days. 4.80% of the stock is owned by company insiders.

Syndax Pharmaceuticals Stock Up 1.8%

Shares of Syndax Pharmaceuticals stock opened at $19.92 on Wednesday. Syndax Pharmaceuticals, Inc. has a 1-year low of $12.99 and a 1-year high of $25.59. The company has a market capitalization of $1.77 billion, a PE ratio of -7.94 and a beta of 0.40. The company has a debt-to-equity ratio of 38.95, a current ratio of 6.77 and a quick ratio of 6.44. The business has a 50-day moving average of $20.87 and a 200-day moving average of $21.30.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on SNDX. JPMorgan Chase & Co. dropped their target price on Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. UBS Group decreased their price target on Syndax Pharmaceuticals from $37.00 to $33.00 and set a “buy” rating for the company in a report on Friday. Weiss Ratings raised shares of Syndax Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. Bank of America reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Wednesday, August 5th. Finally, Barclays boosted their target price on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Syndax Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.55.

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.