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

Trails Edge Capital Partners LP acquired a new position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) in the second quarter, HoldingsChannel.com reports. The firm acquired 1,110,000 shares of the company’s stock, valued at approximately $24,264,600,000. Syndax Pharmaceuticals accounts for 3.9% of Trails Edge Capital Partners LP’s investment portfolio, making the stock its 12th biggest holding.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC lifted its stake in shares of 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 buying an additional 312,231 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in 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 acquiring an additional 3,094 shares during the period. Caxton Associates LLP bought a new position in Syndax Pharmaceuticals in the 1st quarter valued at about $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Syndax Pharmaceuticals by 18.0% in 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 acquiring an additional 30,596 shares during the period. Finally, Legal & General Group Plc lifted its position 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 acquiring an additional 3,937 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SNDX. UBS Group reduced their price objective on Syndax Pharmaceuticals from $37.00 to $33.00 and set a “buy” rating for the company in a report on Friday. Bank of America restated a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Wednesday, August 5th. Weiss Ratings raised Syndax Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday. HC Wainwright lowered their price objective on Syndax Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Finally, 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. Twelve investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Syndax Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $41.55.

Syndax Pharmaceuticals Stock Up 1.8%

NASDAQ SNDX opened at $19.92 on Wednesday. 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 1-year low of $12.99 and a 1-year high of $25.59. The company 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 price-to-earnings ratio of -7.94 and a beta of 0.40.

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

Insider Buying and Selling at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 32,375 shares of Syndax Pharmaceuticals stock in a transaction on Wednesday, July 8th. The stock was 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 of the company’s stock, valued at $11,752,594.32. The trade was a 6.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Nicholas A.J. Botwood sold 34,280 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $18.00, for a total value of $617,040.00. Following the sale, the chief marketing officer owned 60,885 shares of the company’s stock, valued at approximately $1,095,930. The trade was a 36.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 105,914 shares of company stock valued at $2,120,789 over the last ninety days. Insiders own 4.80% of the company’s stock.

About Syndax Pharmaceuticals

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.