Clearline Capital LP Acquires New Position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Clearline Capital LP acquired a new stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 42,195 shares of the company’s stock, valued at approximately $866,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. nVerses Capital LLC purchased a new position in shares of Syndax Pharmaceuticals during the 2nd quarter valued at $33,000. CANADA LIFE ASSURANCE Co grew its stake in Syndax Pharmaceuticals by 28.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 7,182 shares of the company’s stock valued at $171,000 after purchasing an additional 1,587 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in Syndax Pharmaceuticals by 20.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,858 shares of the company’s stock worth $187,000 after purchasing an additional 1,312 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of Syndax Pharmaceuticals during the 2nd quarter worth about $201,000. Finally, EntryPoint Capital LLC lifted its holdings in shares of Syndax Pharmaceuticals by 487.1% during the 1st quarter. EntryPoint Capital LLC now owns 8,636 shares of the company’s stock valued at $206,000 after buying an additional 7,165 shares during the last quarter.

Analysts Set New Price Targets

SNDX has been the topic of a number of research reports. Citigroup increased their price objective on Syndax Pharmaceuticals from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Scotiabank lowered shares of Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 14th. Bank of America lifted their price objective on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Stifel Nicolaus increased their target price on shares of Syndax Pharmaceuticals from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. reduced their price target on Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.33.

Syndax Pharmaceuticals Stock Performance

Shares of NASDAQ:SNDX opened at $18.89 on Friday. The stock’s 50-day moving average is $20.16 and its 200-day moving average is $20.99. The company has a market cap of $1.61 billion, a P/E ratio of -5.87 and a beta of 0.91. Syndax Pharmaceuticals, Inc. has a 52-week low of $11.22 and a 52-week high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Thursday, August 1st. The company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.11. The business had revenue of $3.50 million during the quarter. The firm’s revenue was up 3499999990.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.64) earnings per share. As a group, equities analysts predict that Syndax Pharmaceuticals, Inc. will post -3.66 EPS for the current year.

Syndax Pharmaceuticals Profile

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).