Russell Investments Group Ltd. Has $1.45 Million Stock Holdings in Syndax Pharmaceuticals, Inc. $SNDX

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

Several other large investors also recently modified their holdings of SNDX. Lazard Asset Management LLC bought a new stake in shares of Syndax Pharmaceuticals in the 4th quarter valued at approximately $153,000. Guggenheim Capital LLC bought a new stake in shares of Syndax Pharmaceuticals in the 4th quarter valued at approximately $157,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Syndax Pharmaceuticals in the 1st quarter valued at approximately $162,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Syndax Pharmaceuticals in the 1st quarter valued at approximately $179,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Syndax Pharmaceuticals by 179.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 18,190 shares of the company's stock valued at $240,000 after purchasing an additional 11,681 shares during the period.

Insiders Place Their Bets

In related news, CEO Michael A. Metzger sold 7,534 shares of the company's stock in a transaction on 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 sale, the chief executive officer owned 298,661 shares in the company, valued at $2,774,560.69. This represents a 2.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 value of $304,128.00. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,230 shares of company stock valued at $684,527. 4.10% of the stock is owned by corporate insiders.

Syndax Pharmaceuticals Trading Down 1.3%

Shares of SNDX traded down $0.21 during trading hours on Tuesday, reaching $16.12. The stock had a trading volume of 1,802,358 shares, compared to its average volume of 2,870,207. The company has a quick ratio of 4.55, a current ratio of 4.71 and a debt-to-equity ratio of 2.06. Syndax Pharmaceuticals, Inc. has a 52 week low of $8.58 and a 52 week high of $22.50. The firm has a 50-day moving average of $11.77 and a 200 day moving average of $11.97. The company has a market cap of $1.39 billion, a P/E ratio of -4.14 and a beta of 0.72.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported ($0.83) EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $37.96 million during the quarter, compared to analysts' expectations of $26.64 million. During the same quarter in the prior year, the company earned ($0.80) EPS. The firm's quarterly revenue was up 984.5% on a year-over-year basis. On average, sell-side analysts expect that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SNDX. Wall Street Zen raised Syndax Pharmaceuticals to a "sell" rating in a report on Tuesday, May 6th. B. Riley raised Syndax Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, August 6th. Guggenheim reaffirmed a "buy" rating and set a $32.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th. BTIG Research upped their price objective on Syndax Pharmaceuticals from $43.00 to $56.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Citigroup upped their price objective on Syndax Pharmaceuticals from $46.00 to $51.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Syndax Pharmaceuticals presently 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).