Syndax Pharmaceuticals, Inc. $SNDX Shares Bought by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in Syndax Pharmaceuticals by 33.3% during Q1, owning 132,433 shares valued at approximately $1.63 million as per the latest SEC filing.
• Several hedge funds, including Wells Fargo and Dimensional Fund Advisors, have significantly raised their positions in Syndax Pharmaceuticals recently, indicating growing institutional interest.
• Analysts are generally optimistic about Syndax, with the stock receiving multiple "buy" ratings and a consensus price target of $38.00, which is notably above its current trading price of $15.84.

Aberdeen Group plc raised its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 33.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,433 shares of the company's stock after purchasing an additional 33,093 shares during the period. Aberdeen Group plc owned about 0.15% of Syndax Pharmaceuticals worth $1,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SNDX. Wells Fargo & Company MN raised its position in Syndax Pharmaceuticals by 37.6% in the 4th quarter. Wells Fargo & Company MN now owns 42,117 shares of the company's stock valued at $557,000 after purchasing an additional 11,498 shares in the last quarter. Russell Investments Group Ltd. raised its position in Syndax Pharmaceuticals by 114.8% in the 4th quarter. Russell Investments Group Ltd. now owns 29,022 shares of the company's stock valued at $384,000 after purchasing an additional 15,508 shares in the last quarter. Barclays PLC raised its position in Syndax Pharmaceuticals by 4.5% in the 4th quarter. Barclays PLC now owns 196,051 shares of the company's stock valued at $2,592,000 after purchasing an additional 8,422 shares in the last quarter. Guggenheim Capital LLC acquired a new stake in Syndax Pharmaceuticals in the 4th quarter valued at about $157,000. Finally, Dimensional Fund Advisors LP raised its position in Syndax Pharmaceuticals by 594.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 331,300 shares of the company's stock valued at $4,378,000 after purchasing an additional 283,577 shares in the last quarter.

Insider Activity at Syndax Pharmaceuticals

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

Wall Street Analyst Weigh In

SNDX has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on Syndax Pharmaceuticals in a research report on Thursday, July 10th. They set a "buy" rating and a $18.00 target price on the stock. Citigroup raised their target price on Syndax Pharmaceuticals from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Guggenheim reissued a "buy" rating and set a $32.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday, May 6th. UBS Group cut their target price on Syndax Pharmaceuticals from $37.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Finally, BTIG Research raised their target price on Syndax Pharmaceuticals from $43.00 to $56.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Syndax Pharmaceuticals currently has an average rating of "Buy" and a consensus price target of $38.00.

Syndax Pharmaceuticals Trading Up 0.6%

SNDX opened at $15.84 on Friday. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -4.07 and a beta of 0.74. Syndax Pharmaceuticals, Inc. has a 52 week low of $8.58 and a 52 week high of $22.50. The business's 50 day moving average is $10.73 and its two-hundred day moving average is $11.93. 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 (NASDAQ:SNDX - Get Free Report) last released its quarterly 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 company had revenue of $37.96 million for the quarter, compared to analyst estimates of $26.64 million. Syndax Pharmaceuticals had a negative return on equity of 130.47% and a negative net margin of 428.48%.The firm's revenue was up 984.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.80) earnings per share. On average, research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

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).

Want to see what other hedge funds are holding SNDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.