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

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

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Syndax Pharmaceuticals by 21.2% during the 4th quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock valued at $130,899,000 after acquiring an additional 1,091,717 shares during the period. Goldman Sachs Group Inc. increased its stake in Syndax Pharmaceuticals by 3.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,695,375 shares of the company’s stock worth $119,660,000 after purchasing an additional 208,941 shares during the period. State Street Corp increased its stake in Syndax Pharmaceuticals by 19.3% in the 4th quarter. State Street Corp now owns 4,596,552 shares of the company’s stock worth $96,574,000 after purchasing an additional 743,003 shares during the period. Bank of America Corp DE lifted its position in Syndax Pharmaceuticals by 33.7% in the second quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock valued at $35,951,000 after purchasing an additional 967,873 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Syndax Pharmaceuticals by 1.3% in the fourth quarter. Franklin Resources Inc. now owns 2,421,666 shares of the company’s stock valued at $50,879,000 after purchasing an additional 31,105 shares during the last quarter.

Insider Buying and Selling at Syndax Pharmaceuticals

In related news, CEO Michael A. Metzger sold 32,375 shares of Syndax Pharmaceuticals stock in a transaction 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 sale, the chief executive officer owned 484,843 shares in the company, valued at $11,752,594.32. The trade was a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Nicholas A.J. Botwood sold 31,235 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $18.14, for a total transaction of $566,602.90. Following the transaction, the chief marketing officer directly owned 60,885 shares in the company, valued at approximately $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. In the last quarter, insiders sold 105,914 shares of company stock worth $2,120,789. 4.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SNDX. HC Wainwright cut their target price on shares of Syndax Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Barclays upped their price target on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, May 1st. JPMorgan Chase & Co. dropped their price target on shares of Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Weiss Ratings lowered shares of Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Finally, UBS Group restated a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Friday, June 12th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.91.

Syndax Pharmaceuticals Stock Performance

NASDAQ SNDX opened at $19.84 on Monday. The stock has a market cap of $1.76 billion, a P/E ratio of -7.90 and a beta of 0.40. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $12.99 and a fifty-two week high of $25.59. The stock has a 50 day simple moving average of $20.59 and a two-hundred day simple moving average of $21.34. The company has a debt-to-equity ratio of 38.95, a quick ratio of 6.44 and a current ratio of 6.77.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its 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 business had revenue of $72.79 million for the quarter, compared to analysts’ expectations of $79.36 million. Syndax Pharmaceuticals had a negative net margin of 87.52% and a negative return on equity of 372.94%. Syndax Pharmaceuticals’s quarterly revenue was up 91.8% on a year-over-year basis. During the same period last year, the firm posted ($0.83) earnings per share. On average, analysts forecast that Syndax Pharmaceuticals, Inc. will post -1.97 earnings per share for the current year.

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.