Nuveen LLC Acquires Shares of 224,153 Syndax Pharmaceuticals, Inc. $SNDX

Key Points

• Nuveen LLC has acquired 224,153 shares of Syndax Pharmaceuticals, Inc. valued at approximately $2.75 million, increasing its stake to 0.26% of the company.
• Syndax Pharmaceuticals reported a significant revenue increase of 984.5% year-over-year, with earnings per share of ($0.83), surpassing analysts' expectations.
• Analysts' ratings for Syndax Pharmaceuticals vary, with a consensus of "Buy" and price targets ranging from $18.00 to $56.00, indicating mixed expectations about the stock's future performance.

Nuveen LLC bought a new stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 224,153 shares of the company's stock, valued at approximately $2,754,000. Nuveen LLC owned about 0.26% of Syndax Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lazard Asset Management LLC bought a new position in shares of Syndax Pharmaceuticals during the 4th quarter valued at $153,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Syndax Pharmaceuticals during the 1st quarter valued at $162,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Syndax Pharmaceuticals during the 1st quarter valued at $179,000. Tower Research Capital LLC TRC boosted its position in Syndax Pharmaceuticals by 179.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 18,190 shares of the company's stock valued at $240,000 after buying an additional 11,681 shares during the period. Finally, CWM LLC boosted its position in Syndax Pharmaceuticals by 795.2% during the 1st quarter. CWM LLC now owns 23,374 shares of the company's stock valued at $287,000 after buying an additional 20,763 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SNDX. Guggenheim reissued a "buy" rating and set a $32.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, May 6th. The Goldman Sachs Group began coverage on shares of Syndax Pharmaceuticals in a research report on Thursday, July 10th. They set a "buy" rating and a $18.00 price target for the company. UBS Group dropped their price target on shares of Syndax Pharmaceuticals from $37.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. Citigroup increased their price target on shares of Syndax Pharmaceuticals from $46.00 to $51.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen raised shares of Syndax Pharmaceuticals to a "sell" rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Syndax Pharmaceuticals presently has an average rating of "Buy" and an average price target of $38.00.

Syndax Pharmaceuticals Trading Up 0.1%

Shares of NASDAQ:SNDX traded up $0.01 on Wednesday, hitting $16.13. The company had a trading volume of 1,997,915 shares, compared to its average volume of 2,870,207. The firm's 50-day simple moving average is $11.92 and its two-hundred day simple moving average is $12.00. Syndax Pharmaceuticals, Inc. has a 1 year low of $8.58 and a 1 year high of $22.50. The company has a quick ratio of 4.55, a current ratio of 4.71 and a debt-to-equity ratio of 2.06. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -4.15 and a beta of 0.72.

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

Insider Activity

In related news, CEO Michael A. Metzger sold 7,534 shares of the 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 directly owned 298,661 shares in the company, valued at $2,774,560.69. This trade represents a 2.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dennis Podlesak sold 19,200 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $15.84, for a total transaction of $304,128.00. Following the completion of the transaction, the director 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 quarter, insiders sold 47,230 shares of company stock valued at $684,527. 4.10% of the stock is owned by company insiders.

Syndax Pharmaceuticals 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).