Elmind Capital LP Takes $38.97 Million Position in Syndax Pharmaceuticals, Inc. $SNDX

Elmind Capital LP acquired a new stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,855,000 shares of the company’s stock, valued at approximately $38,974,000. Syndax Pharmaceuticals makes up 11.5% of Elmind Capital LP’s investment portfolio, making the stock its 2nd largest position.

Other institutional investors have also modified their holdings of the company. Pallas Capital Advisors LLC lifted its stake in Syndax Pharmaceuticals by 8.7% in the 4th quarter. Pallas Capital Advisors LLC now owns 10,985 shares of the company’s stock valued at $231,000 after acquiring an additional 875 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Syndax Pharmaceuticals by 26.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock valued at $89,000 after acquiring an additional 893 shares in the last quarter. Schroder Investment Management Group lifted its stake in Syndax Pharmaceuticals by 1.0% in the 3rd quarter. Schroder Investment Management Group now owns 123,404 shares of the company’s stock valued at $1,920,000 after acquiring an additional 1,241 shares in the last quarter. Verition Fund Management LLC lifted its stake in Syndax Pharmaceuticals by 7.5% in the 4th quarter. Verition Fund Management LLC now owns 18,460 shares of the company’s stock valued at $388,000 after acquiring an additional 1,281 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Syndax Pharmaceuticals by 9.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 17,562 shares of the company’s stock valued at $374,000 after acquiring an additional 1,455 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have commented on SNDX. Stifel Nicolaus set a $45.00 target price on Syndax Pharmaceuticals in a research note on Friday, February 27th. Barclays boosted their target price on Syndax Pharmaceuticals from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Wall Street Zen upgraded Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. UBS Group restated a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Friday, June 12th. Finally, The Goldman Sachs Group boosted their target price on Syndax Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Syndax Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.55.

Insider Activity at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 6,847 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $18.99, for a total transaction of $130,024.53. Following the transaction, the chief executive officer owned 484,843 shares of the company’s stock, valued at $9,207,168.57. The trade was a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CMO Nicholas A.J. Botwood sold 34,280 shares of the business’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 value of $617,040.00. Following the transaction, the chief marketing officer directly owned 60,885 shares in the company, valued at $1,095,930. This trade represents a 36.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 73,539 shares of company stock worth $1,336,019 in the last ninety days. Insiders own 4.80% of the company’s stock.

Syndax Pharmaceuticals Stock Up 2.6%

NASDAQ:SNDX opened at $19.04 on Thursday. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -6.82 and a beta of 0.38. Syndax Pharmaceuticals, Inc. has a twelve month low of $8.59 and a twelve month high of $25.59. The stock’s 50 day moving average price is $20.68 and its two-hundred day moving average price is $21.21. The company has a quick ratio of 5.06, a current ratio of 5.47 and a debt-to-equity ratio of 8.26.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.11. The firm had revenue of $64.86 million for the quarter, compared to analyst estimates of $69.76 million. Syndax Pharmaceuticals had a negative return on equity of 256.65% and a negative net margin of 111.88%.The business’s quarterly revenue was up 224.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.98) EPS. Equities research analysts expect that Syndax Pharmaceuticals, Inc. will post -1.66 earnings per share for the current fiscal 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.