Trails Edge Capital Partners LP Buys Shares of 1,110,000 Syndax Pharmaceuticals, Inc. $SNDX

Trails Edge Capital Partners LP bought a new stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,110,000 shares of the company’s stock, valued at approximately $24,264,600,000. Syndax Pharmaceuticals comprises about 3.9% of Trails Edge Capital Partners LP’s investment portfolio, making the stock its 12th biggest 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 also recently modified their holdings of SNDX. Jupiter Topco LLC bought a new stake in shares of Syndax Pharmaceuticals during the second quarter worth approximately $860,000. Elmind Capital LP bought a new position in Syndax Pharmaceuticals in the second quarter valued at approximately $40,550,300,000. Hsbc Holdings PLC bought a new position in Syndax Pharmaceuticals in the second quarter valued at approximately $457,000. Parkman Healthcare Partners LLC acquired a new stake in Syndax Pharmaceuticals during the 2nd quarter worth $19,177,000. Finally, Legal & General Group Plc bought a new stake in shares of Syndax Pharmaceuticals during the 2nd quarter valued at $1,431,000.

Insider Transactions at Syndax Pharmaceuticals

In other news, CEO Michael A. Metzger sold 32,375 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $24.24, for a total value of $784,770.00. Following the sale, the chief executive officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Nicholas A.J. Botwood sold 34,280 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $18.00, for a total transaction of $617,040.00. Following the completion of the sale, the chief marketing officer owned 60,885 shares of the company’s stock, valued at $1,095,930. This trade represents a 36.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 105,914 shares of company stock valued at $2,120,789. Insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. HC Wainwright decreased their price objective on Syndax Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Barclays upped their price objective on Syndax Pharmaceuticals from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, May 1st. UBS Group reduced their target price on Syndax Pharmaceuticals from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Friday. Finally, Bank of America restated a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Wednesday, August 5th. 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, Syndax Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $41.55.

Syndax Pharmaceuticals Trading Up 1.8%

NASDAQ SNDX opened at $19.92 on Wednesday. Syndax Pharmaceuticals, Inc. has a 12 month low of $12.99 and a 12 month high of $25.59. The company has a current ratio of 6.77, a quick ratio of 6.44 and a debt-to-equity ratio of 38.95. The stock has a 50 day moving average of $20.87 and a 200-day moving average of $21.30. The company has a market cap of $1.77 billion, a PE ratio of -7.94 and a beta of 0.40.

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