SummitTX Capital L.P. Buys 27,213 Shares of Syndax Pharmaceuticals, Inc. $SNDX

SummitTX Capital L.P. boosted its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 69.6% during the first quarter, according to the company in its most recent filing with the SEC. 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. owned approximately 0.07% of Syndax Pharmaceuticals worth $1,550,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Palumbo Wealth Management LLC bought a new stake in shares of Syndax Pharmaceuticals during the fourth quarter worth approximately $1,079,000. Torray Investment Partners LLC bought a new position in shares of Syndax Pharmaceuticals during the fourth quarter worth approximately $2,055,000. SG Americas Securities LLC increased its stake in shares of Syndax Pharmaceuticals by 184.5% during the fourth quarter. SG Americas Securities LLC now owns 129,227 shares of the company’s stock worth $2,715,000 after purchasing an additional 83,801 shares during the period. Eventide Asset Management LLC lifted its holdings in Syndax Pharmaceuticals by 25.3% during the 4th quarter. Eventide Asset Management LLC now owns 1,238,196 shares of the company’s stock worth $26,014,000 after purchasing an additional 249,710 shares during the last quarter. Finally, Voss Capital LP acquired a new stake in Syndax Pharmaceuticals during the 4th quarter worth approximately $2,626,000.

Syndax Pharmaceuticals Stock Performance

Syndax Pharmaceuticals stock opened at $19.22 on Thursday. The company has a debt-to-equity ratio of 8.26, a current ratio of 5.47 and a quick ratio of 5.06. Syndax Pharmaceuticals, Inc. has a 1 year low of $9.49 and a 1 year high of $25.59. The business has a 50 day moving average of $20.46 and a 200-day moving average of $21.43. The company has a market capitalization of $1.70 billion, a P/E ratio of -6.89 and a beta of 0.37.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.11. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. The company had revenue of $64.86 million for the quarter, compared to analyst estimates of $69.76 million. During the same quarter in the previous year, the business earned ($0.98) earnings per share. Syndax Pharmaceuticals’s revenue was up 224.3% compared to the same quarter last year. On average, equities research analysts predict that Syndax Pharmaceuticals, Inc. will post -1.65 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Michael A. Metzger sold 32,375 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer directly owned 484,843 shares of the company’s stock, valued at $11,752,594.32. This trade represents a 6.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Nicholas A.J. Botwood sold 31,235 shares of Syndax Pharmaceuticals stock in a transaction dated 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 in the company, valued at $1,104,453.90. The trade was a 33.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 105,914 shares of company stock valued at $2,120,789 over the last 90 days. 4.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on SNDX shares. UBS Group reaffirmed a “buy” rating on shares of Syndax Pharmaceuticals in a report on Friday, June 12th. HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of Syndax Pharmaceuticals in a report on Wednesday, July 15th. Weiss Ratings downgraded shares of Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. Barclays raised their price target 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. Finally, The Goldman Sachs Group lifted their price objective on shares of Syndax Pharmaceuticals from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. One investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.55.

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.