Seven Eight Capital LP Acquires 66,332 Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Seven Eight Capital LP raised its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 688.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 75,971 shares of the company’s stock after acquiring an additional 66,332 shares during the quarter. Seven Eight Capital LP’s holdings in Syndax Pharmaceuticals were worth $1,560,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNDX. nVerses Capital LLC bought a new position in shares of Syndax Pharmaceuticals in the 2nd quarter valued at approximately $33,000. Quadrant Capital Group LLC raised its position in shares of Syndax Pharmaceuticals by 158.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $53,000 after purchasing an additional 1,496 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in shares of Syndax Pharmaceuticals by 28.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 7,182 shares of the company’s stock worth $171,000 after buying an additional 1,587 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Syndax Pharmaceuticals by 20.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,858 shares of the company’s stock worth $187,000 after buying an additional 1,312 shares during the period. Finally, American Century Companies Inc. acquired a new position in Syndax Pharmaceuticals in the 2nd quarter valued at $201,000.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SNDX shares. Bank of America upped their price target on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Jefferies Financial Group initiated coverage on Syndax Pharmaceuticals in a research note on Friday, June 28th. They set a “buy” rating and a $37.00 target price for the company. Barclays lifted their price target on Syndax Pharmaceuticals from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. HC Wainwright raised their price objective on shares of Syndax Pharmaceuticals from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Scotiabank lowered shares of Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Syndax Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $35.33.

Syndax Pharmaceuticals Stock Performance

Shares of Syndax Pharmaceuticals stock opened at $18.63 on Friday. Syndax Pharmaceuticals, Inc. has a twelve month low of $11.22 and a twelve month high of $25.34. The firm has a market cap of $1.59 billion, a P/E ratio of -5.79 and a beta of 0.91. The firm’s 50-day simple moving average is $20.82 and its 200-day simple moving average is $21.21.

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

About Syndax Pharmaceuticals

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).