Invesco Ltd. Has $944,000 Stock Holdings in Syndax Pharmaceuticals, Inc. $SNDX

Key Points

• Invesco Ltd. increased its stake in Syndax Pharmaceuticals by 49.7%, owning 76,848 shares valued at approximately $944,000.
• Several other institutional investors, including Deutsche Bank AG and GSA Capital Partners, significantly raised their stakes in the company during the first quarter.
• Syndax Pharmaceuticals reported a revenue increase of 984.5% for the last quarter, achieving $37.96 million compared to analyst estimates of $26.64 million.

Invesco Ltd. lifted its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 49.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,848 shares of the company's stock after buying an additional 25,524 shares during the period. Invesco Ltd. owned about 0.09% of Syndax Pharmaceuticals worth $944,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SNDX. Lazard Asset Management LLC bought a new stake in shares of Syndax Pharmaceuticals in the fourth quarter valued at about $153,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Syndax Pharmaceuticals in the first quarter valued at about $162,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Syndax Pharmaceuticals in the first quarter valued at about $179,000. CWM LLC lifted its stake in shares of Syndax Pharmaceuticals by 795.2% in the first 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. Finally, Cerity Partners LLC bought a new stake in shares of Syndax Pharmaceuticals in the first quarter valued at about $295,000.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ:SNDX traded up $0.85 during trading on Friday, reaching $17.04. The stock had a trading volume of 2,730,033 shares, compared to its average volume of 2,275,109. 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 price is $12.22 and its 200 day moving average price is $12.03. 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 stock has a market capitalization of $1.47 billion, a PE ratio of -4.38 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) earnings per share (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 company had revenue of $37.96 million during the quarter, compared to analysts' expectations of $26.64 million. During the same quarter in the previous year, the company posted ($0.80) earnings per share. Syndax Pharmaceuticals's quarterly revenue was up 984.5% compared to the same quarter last year. As a group, equities analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Insider Activity at Syndax Pharmaceuticals

In related news, CEO Michael A. Metzger sold 7,534 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer owned 298,661 shares in the company, valued at $2,774,560.69. The trade was a 2.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dennis Podlesak sold 19,200 shares of the business's 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 completion of the transaction, the director owned 191,763 shares of the company's stock, valued at $3,037,525.92. This trade represents a 9.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,230 shares of company stock valued at $684,527 in the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Guggenheim assumed coverage on shares of Syndax Pharmaceuticals in a research note on Thursday. They set a "buy" rating and a $34.00 price target for the company. B. Riley upgraded shares of Syndax Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, August 6th. Citigroup raised their price target on shares of Syndax Pharmaceuticals from $46.00 to $51.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. UBS Group cut 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 note on Tuesday, July 15th. Finally, The Goldman Sachs Group raised their price target on shares of Syndax Pharmaceuticals from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Friday. One 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. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $38.89.

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).