Nuveen LLC Makes New Investment in 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 Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 224,153 shares of the company's stock, valued at approximately $2,754,000. Nuveen LLC owned about 0.26% of Syndax Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Soleus Capital Management L.P. boosted its holdings in shares of Syndax Pharmaceuticals by 128.4% during the 4th quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company's stock worth $32,944,000 after buying an additional 1,401,016 shares in the last quarter. Sphera Funds Management LTD. boosted its holdings in shares of Syndax Pharmaceuticals by 33.5% during the 4th quarter. Sphera Funds Management LTD. now owns 1,381,241 shares of the company's stock worth $18,260,000 after buying an additional 346,395 shares in the last quarter. Granahan Investment Management LLC boosted its holdings in shares of Syndax Pharmaceuticals by 36.2% during the 4th quarter. Granahan Investment Management LLC now owns 905,322 shares of the company's stock worth $11,968,000 after buying an additional 240,557 shares in the last quarter. Octagon Capital Advisors LP bought a new position in shares of Syndax Pharmaceuticals during the 4th quarter worth approximately $11,951,000. Finally, Northern Trust Corp boosted its holdings in shares of Syndax Pharmaceuticals by 7.5% during the 4th quarter. Northern Trust Corp now owns 792,750 shares of the company's stock worth $10,480,000 after buying an additional 55,144 shares in the last quarter.

Insider Activity

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

Syndax Pharmaceuticals Stock Performance

Shares of Syndax Pharmaceuticals stock traded down $0.09 during trading hours on Tuesday, hitting $16.25. 826,150 shares of the company's stock traded hands, compared to its average volume of 2,244,957. Syndax Pharmaceuticals, Inc. has a 12-month low of $8.58 and a 12-month high of $22.50. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -4.18 and a beta of 0.72. The company has a fifty day simple moving average of $11.63 and a 200-day simple moving average of $11.95. The company has a debt-to-equity ratio of 2.06, a current ratio of 4.71 and a quick ratio of 4.55.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $37.96 million during the quarter, compared to analyst estimates of $26.64 million. During the same period last year, the firm posted ($0.80) EPS. The business's revenue was up 984.5% compared to the same quarter last year. Equities research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Analyst Ratings Changes

SNDX has been the topic of a number of research analyst reports. UBS Group cut their price target on Syndax Pharmaceuticals from $37.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. The Goldman Sachs Group assumed coverage on Syndax Pharmaceuticals in a report on Thursday, July 10th. They issued a "buy" rating and a $18.00 target price on the stock. Guggenheim reiterated a "buy" rating and issued a $32.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th. BTIG Research increased their target price on Syndax Pharmaceuticals from $43.00 to $56.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Wall Street Zen upgraded Syndax Pharmaceuticals to a "sell" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $38.00.

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).