Deutsche Bank AG Boosts Stake in Syndax Pharmaceuticals, Inc. $SNDX

Key Points

• Deutsche Bank AG boosted its stake in Syndax Pharmaceuticals by 127.7% in Q1, holding 204,732 shares valued at approximately $2.52 million.
• Analysts have generally issued positive ratings for Syndax Pharmaceuticals, with Citigroup raising its target price from $46 to $51 and BTIG Research increasing their target from $43 to $56.
• Syndax Pharmaceuticals reported a revenue increase of 984.5% compared to the same quarter last year, with quarterly revenue hitting $37.96 million.

Deutsche Bank AG grew its position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 127.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 204,732 shares of the company's stock after acquiring an additional 114,828 shares during the quarter. Deutsche Bank AG owned about 0.24% of Syndax Pharmaceuticals worth $2,516,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SNDX. Thornburg Investment Management Inc. increased its holdings in shares of Syndax Pharmaceuticals by 13.6% in the first quarter. Thornburg Investment Management Inc. now owns 130,746 shares of the company's stock valued at $1,606,000 after purchasing an additional 15,659 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Syndax Pharmaceuticals in the first quarter valued at approximately $783,000. GSA Capital Partners LLP increased its holdings in shares of Syndax Pharmaceuticals by 136.8% in the first quarter. GSA Capital Partners LLP now owns 87,284 shares of the company's stock valued at $1,072,000 after purchasing an additional 50,427 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Syndax Pharmaceuticals in the first quarter valued at approximately $179,000. Finally, Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group acquired a new stake in shares of Syndax Pharmaceuticals in the first quarter valued at approximately $2,457,000.

Insider Activity

In related news, Director Dennis Podlesak sold 19,200 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $15.84, for a total value of $304,128.00. Following the transaction, the director owned 191,763 shares in the company, valued at $3,037,525.92. The trade was a 9.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael A. Metzger sold 7,534 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $9.29, for a total value of $69,990.86. Following the completion of the transaction, the chief executive officer owned 298,661 shares in the company, valued at $2,774,560.69. This trade represents a 2.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,230 shares of company stock worth $684,527 in the last 90 days. 4.10% of the stock is currently owned by insiders.

Syndax Pharmaceuticals Stock Up 2.5%

NASDAQ:SNDX traded up $0.40 during midday trading on Friday, reaching $16.24. The company had a trading volume of 1,469,887 shares, compared to its average volume of 2,895,916. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -4.17 and a beta of 0.74. The stock's fifty day simple moving average is $10.85 and its 200-day simple moving average is $11.95. Syndax Pharmaceuticals, Inc. has a 12-month low of $8.58 and a 12-month high of $22.50. The company has a current ratio of 4.71, a quick ratio of 4.55 and a debt-to-equity ratio of 2.06.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SNDX. Scotiabank increased their price objective on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a "sector perform" rating in a research report on Tuesday, May 6th. UBS Group lowered their price target on Syndax Pharmaceuticals from $37.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. Wall Street Zen upgraded Syndax Pharmaceuticals to a "sell" rating in a research report on Tuesday, May 6th. Guggenheim restated a "buy" rating and set a $32.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, May 6th. Finally, B. Riley upgraded Syndax Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $38.00.

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).