Pale Fire Capital SE Sells 158,910 Shares of Syndax Pharmaceuticals, Inc. $SNDX

Pale Fire Capital SE trimmed its position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 55.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 125,550 shares of the company’s stock after selling 158,910 shares during the quarter. Syndax Pharmaceuticals makes up 0.1% of Pale Fire Capital SE’s portfolio, making the stock its 29th biggest position. Pale Fire Capital SE’s holdings in Syndax Pharmaceuticals were worth $2,745,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP purchased a new position in Syndax Pharmaceuticals during the second quarter valued at approximately $26,000. Larson Financial Group LLC lifted its holdings in Syndax Pharmaceuticals by 192.2% during the third quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock worth $45,000 after buying an additional 1,922 shares during the period. Quantbot Technologies LP purchased a new stake in Syndax Pharmaceuticals during the third quarter worth $53,000. Smartleaf Asset Management LLC boosted its position in Syndax Pharmaceuticals by 2,698.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock valued at $55,000 after acquiring an additional 2,564 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Syndax Pharmaceuticals during the 2nd quarter valued at $66,000.

Syndax Pharmaceuticals Price Performance

Shares of SNDX opened at $20.78 on Thursday. The business’s 50-day moving average is $20.95 and its two-hundred day moving average is $21.25. The company has a market capitalization of $1.84 billion, a P/E ratio of -8.28 and a beta of 0.37. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $12.99 and a fifty-two week high of $25.59. 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 for the quarter, missing the consensus estimate of ($0.45) by ($0.10). The firm 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 revenue for the quarter was up 91.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.83) earnings per share. Research analysts predict that Syndax Pharmaceuticals, Inc. will post -2.01 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on SNDX shares. UBS Group reduced their target price on shares of Syndax Pharmaceuticals from $37.00 to $33.00 and set a “buy” rating for the company in a report on Friday, August 21st. Weiss Ratings upgraded shares of Syndax Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. JPMorgan Chase & Co. cut their price objective on shares of Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. Bank of America reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Wednesday, August 5th. Finally, HC Wainwright decreased their target price on shares of Syndax Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $41.55.

Insider Buying and Selling

In related news, CMO Nicholas A.J. Botwood sold 34,280 shares of the business’s stock in a transaction dated 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 directly owned 60,885 shares in the company, valued at approximately $1,095,930. The trade was a 36.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael A. Metzger sold 32,375 shares of the business’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 owned 484,843 shares of the company’s stock, valued at approximately $11,752,594.32. This trade represents a 6.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 97,890 shares of company stock worth $1,968,413 over the last quarter. 4.80% of the stock is currently owned by insiders.

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.