Inspire Investing LLC Grows Stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Inspire Investing LLC raised its holdings in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 15.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,290 shares of the company’s stock after buying an additional 2,258 shares during the period. Inspire Investing LLC’s holdings in Syndax Pharmaceuticals were worth $355,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Seven Eight Capital LP boosted its position in shares of Syndax Pharmaceuticals by 688.2% during the second quarter. Seven Eight Capital LP now owns 75,971 shares of the company’s stock valued at $1,560,000 after buying an additional 66,332 shares during the period. Hsbc Holdings PLC boosted its position in shares of Syndax Pharmaceuticals by 10.1% during the second quarter. Hsbc Holdings PLC now owns 43,597 shares of the company’s stock valued at $884,000 after buying an additional 4,006 shares during the period. Sofinnova Investments Inc. boosted its position in shares of Syndax Pharmaceuticals by 33.9% during the second quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock valued at $44,215,000 after buying an additional 545,129 shares during the period. Renaissance Technologies LLC boosted its position in shares of Syndax Pharmaceuticals by 170.9% during the second quarter. Renaissance Technologies LLC now owns 214,300 shares of the company’s stock valued at $4,400,000 after buying an additional 135,200 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of Syndax Pharmaceuticals by 21.8% during the second quarter. Federated Hermes Inc. now owns 656,250 shares of the company’s stock valued at $13,473,000 after buying an additional 117,536 shares during the period.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SNDX shares. Barclays lifted their price target on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. decreased their price target on shares of Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Jefferies Financial Group started coverage on shares of Syndax Pharmaceuticals in a research note on Friday, June 28th. They set a “buy” rating and a $37.00 price target for the company. Scotiabank downgraded shares of Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, HC Wainwright lifted their price target on shares of Syndax Pharmaceuticals from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Syndax Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $35.33.

Syndax Pharmaceuticals Stock Down 1.9 %

Shares of NASDAQ:SNDX opened at $18.27 on Friday. The firm has a 50 day moving average of $20.71 and a 200 day moving average of $21.16. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -5.67 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 issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.11. The business had revenue of $3.50 million for the quarter. The company’s quarterly revenue was up 3499999990.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.64) earnings per share. On average, sell-side analysts expect that Syndax Pharmaceuticals, Inc. will post -3.66 EPS for the current year.

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).