SummitTX Capital L.P. Has $1.55 Million Holdings in Syndax Pharmaceuticals, Inc. $SNDX

SummitTX Capital L.P. increased its position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 69.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,340 shares of the company’s stock after buying an additional 27,213 shares during the period. SummitTX Capital L.P.’s holdings in Syndax Pharmaceuticals were worth $1,550,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC grew its holdings in Syndax Pharmaceuticals by 478.8% during the 1st quarter. AQR Capital Management LLC now owns 377,444 shares of the company’s stock worth $4,637,000 after acquiring an additional 312,231 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Syndax Pharmaceuticals by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,842 shares of the company’s stock valued at $705,000 after purchasing an additional 3,094 shares during the period. Caxton Associates LLP bought a new stake in shares of Syndax Pharmaceuticals during the 1st quarter valued at about $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Syndax Pharmaceuticals by 18.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 200,696 shares of the company’s stock valued at $2,466,000 after purchasing an additional 30,596 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Syndax Pharmaceuticals by 4.9% during the second quarter. Legal & General Group Plc now owns 84,575 shares of the company’s stock worth $792,000 after purchasing an additional 3,937 shares during the period.

Insider Buying and Selling

In related news, CEO Michael A. Metzger sold 32,375 shares of the 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Nicholas A.J. Botwood sold 34,280 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $18.00, for a total transaction of $617,040.00. Following the sale, the chief marketing officer owned 60,885 shares in the company, valued at approximately $1,095,930. The trade was a 36.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 105,914 shares of company stock valued at $2,120,789. 4.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. The Goldman Sachs Group boosted their price target on Syndax Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Barclays boosted their target price 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. Weiss Ratings cut shares of Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of Syndax Pharmaceuticals in a research note on Wednesday, July 15th. Finally, UBS Group reissued a “buy” rating on shares of Syndax Pharmaceuticals in a report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $42.55.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX opened at $19.22 on Thursday. The stock has a 50-day simple moving average of $20.46 and a two-hundred day simple moving average of $21.43. Syndax Pharmaceuticals, Inc. has a 52-week low of $9.49 and a 52-week high of $25.59. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.06 and a current ratio of 5.47. The firm has a market capitalization of $1.70 billion, a PE ratio of -6.89 and a beta of 0.37.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.11. Syndax Pharmaceuticals had a negative return on equity of 256.65% and a negative net margin of 111.88%.The firm had revenue of $64.86 million for the quarter, compared to the consensus estimate of $69.76 million. During the same quarter last year, the company earned ($0.98) earnings per share. The business’s revenue for the quarter was up 224.3% compared to the same quarter last year. Analysts forecast that Syndax Pharmaceuticals, Inc. will post -1.65 EPS for the current year.

Syndax Pharmaceuticals Company 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.