GSA Capital Partners LLP Purchases New Position in Syndax Pharmaceuticals, Inc. $SNDX

GSA Capital Partners LLP acquired a new position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 62,775 shares of the company’s stock, valued at approximately $1,372,000. GSA Capital Partners LLP owned 0.07% of Syndax Pharmaceuticals at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Tema ETFs LLC raised its holdings in Syndax Pharmaceuticals by 23.8% during the 2nd quarter. Tema ETFs LLC now owns 72,212 shares of the company’s stock valued at $1,579,000 after acquiring an additional 13,864 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Syndax Pharmaceuticals by 59.6% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 342,883 shares of the company’s stock worth $7,495,000 after acquiring an additional 128,076 shares during the period. ADAR1 Capital Management LLC boosted its holdings in shares of Syndax Pharmaceuticals by 45.8% in the first quarter. ADAR1 Capital Management LLC now owns 17,500 shares of the company’s stock worth $409,000 after acquiring an additional 5,500 shares during the period. California State Teachers Retirement System grew its position in shares of Syndax Pharmaceuticals by 31.7% in the first quarter. California State Teachers Retirement System now owns 103,009 shares of the company’s stock valued at $2,406,000 after purchasing an additional 24,810 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Syndax Pharmaceuticals by 56.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 39,904 shares of the company’s stock worth $932,000 after purchasing an additional 14,443 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SNDX shares. JPMorgan Chase & Co. decreased their target price on shares of Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Bank of America reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Wednesday, August 5th. Barclays boosted their price target on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. UBS Group reissued a “buy” rating on shares of Syndax Pharmaceuticals in a report on Friday, June 12th. Finally, HC Wainwright lowered their price objective on shares of Syndax Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating on the stock 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.91.

Insider Activity at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CMO Nicholas A.J. Botwood sold 34,280 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $18.00, for a total transaction of $617,040.00. Following the transaction, the chief marketing officer directly owned 60,885 shares of the company’s stock, valued at approximately $1,095,930. This trade represents a 36.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael A. Metzger sold 32,375 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $24.24, for a total transaction of $784,770.00. Following the completion of the sale, the chief executive officer owned 484,843 shares of the company’s stock, valued at approximately $11,752,594.32. The trade was a 6.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 105,914 shares of company stock worth $2,120,789 over the last three months. Insiders own 4.80% of the company’s stock.

Syndax Pharmaceuticals Price Performance

Shares of Syndax Pharmaceuticals stock opened at $19.84 on Monday. The firm has a market capitalization of $1.76 billion, a PE ratio of -7.90 and a beta of 0.40. The company has a current ratio of 6.77, a quick ratio of 6.44 and a debt-to-equity ratio of 38.95. Syndax Pharmaceuticals, Inc. has a 12 month low of $12.99 and a 12 month high of $25.59. The business’s 50-day moving average price is $20.59 and its 200-day moving average price is $21.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released 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). The firm had revenue of $72.79 million during the quarter, compared to the consensus estimate of $79.36 million. Syndax Pharmaceuticals had a negative return on equity of 372.94% and a negative net margin of 87.52%.The business’s quarterly revenue was up 91.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.83) EPS. Sell-side analysts forecast that Syndax Pharmaceuticals, Inc. will post -1.97 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.