Syndax Pharmaceuticals, Inc. $SNDX Shares Purchased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its position in Syndax Pharmaceuticals by 305.3% to a total of 117,613 shares, valued at $1.445 million.
• Syndax Pharmaceuticals reported a 984.5% year-over-year increase in revenue for the quarter, totaling $37.96 million, exceeding consensus estimates.
• Several brokerages have recently issued positive ratings for Syndax Pharmaceuticals, with BTIG Research setting a price target of $56.00 after upgrading the stock to a "buy" rating.

Russell Investments Group Ltd. raised its position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 305.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,613 shares of the company's stock after purchasing an additional 88,591 shares during the period. Russell Investments Group Ltd. owned about 0.14% of Syndax Pharmaceuticals worth $1,445,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Tang Capital Management LLC purchased a new position in shares of Syndax Pharmaceuticals during the 4th quarter worth about $1,322,000. Polar Asset Management Partners Inc. purchased a new position in shares of Syndax Pharmaceuticals during the 4th quarter worth about $1,124,000. Deutsche Bank AG lifted its holdings in shares of Syndax Pharmaceuticals by 127.7% during the 1st quarter. Deutsche Bank AG now owns 204,732 shares of the company's stock worth $2,516,000 after acquiring an additional 114,828 shares during the period. XTX Topco Ltd purchased a new position in shares of Syndax Pharmaceuticals during the 1st quarter worth about $783,000. Finally, Aigen Investment Management LP purchased a new position in shares of Syndax Pharmaceuticals during the 1st quarter worth about $297,000.

Insider Activity at Syndax Pharmaceuticals

In other news, Director Dennis Podlesak sold 19,200 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $15.84, for a total transaction of $304,128.00. Following the completion of the sale, the director 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael A. Metzger sold 7,534 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $9.29, for a total transaction of $69,990.86. Following the sale, the chief executive officer directly owned 298,661 shares of the company's stock, valued at $2,774,560.69. The trade was a 2.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,230 shares of company stock valued at $684,527 in the last ninety days. 4.10% of the stock is owned by corporate insiders.

Syndax Pharmaceuticals Trading Up 0.1%

NASDAQ SNDX traded up $0.01 during mid-day trading on Friday, hitting $16.33. The company's stock had a trading volume of 1,608,802 shares, compared to its average volume of 3,036,391. Syndax Pharmaceuticals, Inc. has a 52-week low of $8.58 and a 52-week high of $22.50. The stock's fifty day simple moving average is $11.49 and its two-hundred day simple moving average is $11.96. 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 firm has a market capitalization of $1.41 billion, a P/E ratio of -4.20 and a beta of 0.74.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last issued its quarterly earnings data 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 net margin of 428.48% and a negative return on equity of 130.47%. The company had revenue of $37.96 million during the quarter, compared to the consensus estimate of $26.64 million. During the same quarter last year, the company earned ($0.80) earnings per share. Syndax Pharmaceuticals's revenue for the quarter was up 984.5% on a year-over-year basis. Research analysts expect that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Guggenheim reiterated a "buy" rating and set a $32.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th. BTIG Research increased their price objective on shares of Syndax Pharmaceuticals from $43.00 to $56.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. UBS Group cut their price objective on shares of Syndax Pharmaceuticals from $37.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. B. Riley upgraded shares of Syndax Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen upgraded shares of Syndax Pharmaceuticals to a "sell" rating in a report on Tuesday, May 6th. One investment 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 company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus 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).