Bryce Point Capital LLC Makes New Investment in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Bryce Point Capital LLC acquired a new stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,565 shares of the company's stock, valued at approximately $417,000.

Other hedge funds also recently bought and sold shares of the company. R Squared Ltd purchased a new position in Syndax Pharmaceuticals during the 4th quarter valued at $26,000. Quantbot Technologies LP bought a new position in Syndax Pharmaceuticals in the third quarter worth about $49,000. Cape Investment Advisory Inc. lifted its holdings in Syndax Pharmaceuticals by 157.1% in the fourth quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company's stock worth $85,000 after buying an additional 3,927 shares during the period. KBC Group NV boosted its position in Syndax Pharmaceuticals by 104.8% during the 4th quarter. KBC Group NV now owns 6,954 shares of the company's stock valued at $92,000 after acquiring an additional 3,559 shares in the last quarter. Finally, E Fund Management Co. Ltd. raised its position in shares of Syndax Pharmaceuticals by 14.4% in the 4th quarter. E Fund Management Co. Ltd. now owns 12,603 shares of the company's stock worth $167,000 after acquiring an additional 1,583 shares in the last quarter.

Insider Buying and Selling

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

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Syndax Pharmaceuticals Trading Down 11.5 %

Syndax Pharmaceuticals stock traded down $1.32 during midday trading on Thursday, hitting $10.20. The stock had a trading volume of 2,441,579 shares, compared to its average volume of 1,554,816. Syndax Pharmaceuticals, Inc. has a 52-week low of $9.66 and a 52-week high of $25.07. The company has a market capitalization of $877.65 million, a PE ratio of -2.80 and a beta of 1.28. The firm's fifty day moving average is $13.81 and its two-hundred day moving average is $15.43.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its earnings results on Monday, March 3rd. The company reported ($1.10) earnings per share 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. As a group, equities research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. StockNews.com upgraded shares of Syndax Pharmaceuticals to a "sell" rating in a research note on Thursday. Citigroup cut their price objective on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. JPMorgan Chase & Co. upped their target price on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Scotiabank decreased their price objective on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a "sector perform" rating for the company in a report on Wednesday, January 8th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $51.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Syndax Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.20.

Syndax Pharmaceuticals Company 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).