Bryce Point Capital LLC Invests $417,000 in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Bryce Point Capital LLC acquired a new stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 31,565 shares of the company’s stock, valued at approximately $417,000.

Other large investors also recently modified their holdings of the company. Knott David M Jr grew its position in Syndax Pharmaceuticals by 4.8% during the fourth quarter. Knott David M Jr now owns 128,000 shares of the company’s stock valued at $1,692,000 after acquiring an additional 5,856 shares during the last quarter. Trexquant Investment LP boosted its stake in shares of Syndax Pharmaceuticals by 1,309.7% in the 4th quarter. Trexquant Investment LP now owns 471,292 shares of the company’s stock valued at $6,230,000 after purchasing an additional 437,859 shares in the last quarter. DnB Asset Management AS grew its holdings in shares of Syndax Pharmaceuticals by 32.1% during the 4th quarter. DnB Asset Management AS now owns 22,943 shares of the company’s stock valued at $303,000 after purchasing an additional 5,581 shares during the last quarter. Simplify Asset Management Inc. grew its holdings in shares of Syndax Pharmaceuticals by 20.8% during the 4th quarter. Simplify Asset Management Inc. now owns 147,641 shares of the company’s stock valued at $1,952,000 after purchasing an additional 25,456 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Syndax Pharmaceuticals in the 4th quarter worth $219,000.

Syndax Pharmaceuticals Trading Down 9.7 %

Shares of NASDAQ SNDX opened at $11.25 on Friday. The firm has a fifty day simple moving average of $14.13 and a two-hundred day simple moving average of $15.68. The firm has a market capitalization of $967.77 million, a PE ratio of -3.10 and a beta of 0.92. Syndax Pharmaceuticals, Inc. has a 12 month low of $11.09 and a 12 month high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Monday, March 3rd. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.79). The company had revenue of $7.68 million for the quarter, compared to the consensus estimate of $86.32 million. On average, sell-side analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Insider Activity

In related news, insider Neil Gallagher sold 4,618 shares of Syndax Pharmaceuticals stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $71,579.00. Following the completion of the transaction, the insider now directly owns 85,095 shares of the company’s stock, valued at $1,318,972.50. This trade represents a 5.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael A. Metzger sold 13,288 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction of $205,964.00. Following the completion of the sale, the chief executive officer now owns 300,121 shares in the company, valued at approximately $4,651,875.50. This trade represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,683 shares of company stock worth $336,087 in the last quarter. 4.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SNDX shares. JPMorgan Chase & Co. raised their price objective on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Citigroup reduced their price target on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. StockNews.com raised Syndax Pharmaceuticals to a “sell” rating in a research note on Wednesday. Scotiabank dropped their price objective on Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Syndax Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $36.20.

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).