Aberdeen Group plc Has $2.84 Million Holdings in Syndax Pharmaceuticals, Inc. $SNDX

Key Points

• Aberdeen Group plc increased its stake in Syndax Pharmaceuticals by 129.1%, owning approximately $2.84 million worth of shares after acquiring 170,993 additional shares.
• Syndax Pharmaceuticals received positive analyst ratings, with multiple firms assigning a "buy" rating and price targets ranging from $24.00 to $44.00.
• The company's revenue surged by 984.5% year-over-year to $37.96 million, outperforming consensus estimates while reporting a loss of ($0.83) EPS.

Aberdeen Group plc raised its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 129.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 303,426 shares of the company's stock after purchasing an additional 170,993 shares during the period. Aberdeen Group plc owned approximately 0.35% of Syndax Pharmaceuticals worth $2,842,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SNDX. Quarry LP acquired a new stake in shares of Syndax Pharmaceuticals during the 1st quarter worth approximately $25,000. Magnetar Financial LLC bought a new position in Syndax Pharmaceuticals in the first quarter worth $132,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Syndax Pharmaceuticals during the first quarter worth $162,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Syndax Pharmaceuticals during the first quarter worth $179,000. Finally, E Fund Management Co. Ltd. increased its holdings in Syndax Pharmaceuticals by 27.2% in the 1st quarter. E Fund Management Co. Ltd. now owns 16,031 shares of the company's stock valued at $197,000 after buying an additional 3,428 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SNDX shares. Stifel Nicolaus started coverage on shares of Syndax Pharmaceuticals in a research report on Wednesday, September 10th. They issued a "buy" rating and a $44.00 price target for the company. The Goldman Sachs Group upped their price objective on Syndax Pharmaceuticals from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Friday, September 5th. UBS Group dropped their target price on Syndax Pharmaceuticals from $37.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Guggenheim started coverage on Syndax Pharmaceuticals in a research report on Thursday, September 4th. They set a "buy" rating and a $34.00 target price for the company. Finally, B. Riley raised Syndax Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $38.00.

Syndax Pharmaceuticals Price Performance

SNDX opened at $14.30 on Friday. The company has a debt-to-equity ratio of 2.06, a current ratio of 4.71 and a quick ratio of 4.55. The stock has a market capitalization of $1.23 billion, a P/E ratio of -3.68 and a beta of 0.68. The company's 50 day simple moving average is $15.52 and its 200-day simple moving average is $12.35. Syndax Pharmaceuticals, Inc. has a one year low of $8.58 and a one year high of $22.50.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.01) by $0.18. The firm had revenue of $37.96 million for the quarter, compared to the consensus estimate of $26.64 million. Syndax Pharmaceuticals had a negative return on equity of 130.47% and a negative net margin of 428.48%.The business's revenue for the quarter was up 984.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.80) EPS. Sell-side analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael A. Metzger sold 157,307 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $16.41, for a total value of $2,581,407.87. Following the completion of the transaction, the chief executive officer owned 298,661 shares of the company's stock, valued at $4,901,027.01. The trade was a 34.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis Podlesak sold 19,200 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $15.84, for a total value of $304,128.00. Following the completion of the transaction, the director directly owned 191,763 shares of the company's stock, valued at approximately $3,037,525.92. The trade was a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 195,707 shares of company stock valued at $3,183,904. 4.10% of the stock is owned by insiders.

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).

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