Tema Etfs LLC Buys Shares of 21,169 Syndax Pharmaceuticals, Inc. $SNDX

Key Points

• Tema Etfs LLC has acquired 21,169 shares of Syndax Pharmaceuticals, valued at approximately $260,000, marking a new investment in the company during the first quarter.
• Wall Street analysts have given a consensus rating of "Buy" for Syndax Pharmaceuticals, with BTIG Research raising its target price from $43.00 to $56.00.
• In recent insider transactions, CEO Michael A. Metzger sold 7,534 shares, while Director Dennis Podlesak sold 19,200 shares, indicating a decrease in their respective holdings.

Tema Etfs LLC purchased a new position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 21,169 shares of the company's stock, valued at approximately $260,000.

A number of other large investors also recently modified their holdings of the business. Ieq Capital LLC acquired a new stake in Syndax Pharmaceuticals in the 1st quarter valued at about $727,000. AlphaQuest LLC lifted its position in Syndax Pharmaceuticals by 66.4% during the first quarter. AlphaQuest LLC now owns 39,317 shares of the company's stock worth $483,000 after acquiring an additional 15,694 shares during the last quarter. Algert Global LLC lifted its holdings in Syndax Pharmaceuticals by 12.6% during the 1st quarter. Algert Global LLC now owns 884,600 shares of the company's stock worth $10,867,000 after purchasing an additional 98,968 shares during the last quarter. Aberdeen Group plc lifted its holdings in Syndax Pharmaceuticals by 33.3% during the 1st quarter. Aberdeen Group plc now owns 132,433 shares of the company's stock worth $1,627,000 after purchasing an additional 33,093 shares during the last quarter. Finally, E Fund Management Co. Ltd. lifted its holdings in Syndax Pharmaceuticals by 27.2% during the 1st quarter. E Fund Management Co. Ltd. now owns 16,031 shares of the company's stock worth $197,000 after purchasing an additional 3,428 shares during the last quarter.

Wall Street Analyst Weigh In

SNDX has been the subject of a number of research reports. UBS Group dropped their target price on Syndax Pharmaceuticals from $37.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Citigroup boosted their price objective on shares of Syndax Pharmaceuticals from $46.00 to $51.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group began coverage on Syndax Pharmaceuticals in a research note on Thursday, July 10th. They set a "buy" rating and a $18.00 target price for the company. BTIG Research upped their price objective on shares of Syndax Pharmaceuticals from $43.00 to $56.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, Scotiabank upped their target price on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $38.00.

Syndax Pharmaceuticals Stock Down 1.2%

NASDAQ SNDX traded down $0.20 during mid-day trading on Wednesday, hitting $15.92. The company's stock had a trading volume of 858,058 shares, compared to its average volume of 2,242,849. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -4.09 and a beta of 0.72. The company's 50 day simple moving average is $11.77 and its 200 day simple moving average is $11.97. Syndax Pharmaceuticals, Inc. has a twelve month low of $8.58 and a twelve month high of $22.50. The company has a current ratio of 4.71, a quick ratio of 4.55 and a debt-to-equity ratio of 2.06.

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 analysts' consensus estimates of ($1.01) by $0.18. The firm had revenue of $37.96 million during the quarter, compared to analysts' expectations of $26.64 million. Syndax Pharmaceuticals had a negative net margin of 428.48% and a negative return on equity of 130.47%. The business's revenue was up 984.5% on a year-over-year basis. During the same period last year, the company earned ($0.80) earnings per share. Analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Insiders Place Their Bets

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 7,534 shares of Syndax Pharmaceuticals stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $9.29, for a total transaction of $69,990.86. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis Podlesak sold 19,200 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $3,037,525.92. This trade represents a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,230 shares of company stock worth $684,527 over the last ninety days. Insiders own 4.10% of the company's stock.

About Syndax Pharmaceuticals

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).