Aberdeen Group plc Grows Position in Syndax Pharmaceuticals, Inc. $SNDX

Aberdeen Group plc raised its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 22.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 372,792 shares of the company’s stock after buying an additional 69,366 shares during the period. Aberdeen Group plc owned approximately 0.43% of Syndax Pharmaceuticals worth $5,735,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its position in shares of Syndax Pharmaceuticals by 478.8% in the first quarter. AQR Capital Management LLC now owns 377,444 shares of the company’s stock valued at $4,637,000 after acquiring an additional 312,231 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Syndax Pharmaceuticals by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,842 shares of the company’s stock worth $705,000 after purchasing an additional 3,094 shares during the period. Caxton Associates LLP acquired a new position in shares of Syndax Pharmaceuticals during the 1st quarter valued at $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Syndax Pharmaceuticals by 18.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 200,696 shares of the company’s stock valued at $2,466,000 after buying an additional 30,596 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Syndax Pharmaceuticals during the second quarter worth $2,593,000.

Syndax Pharmaceuticals Stock Performance

Shares of NASDAQ SNDX opened at $19.69 on Friday. The business’s 50-day simple moving average is $20.85 and its 200-day simple moving average is $17.71. The company has a debt-to-equity ratio of 2.78, a quick ratio of 4.42 and a current ratio of 4.64. Syndax Pharmaceuticals, Inc. has a 52 week low of $8.58 and a 52 week high of $22.73. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -5.45 and a beta of 0.46.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SNDX. JPMorgan Chase & Co. cut their price target on shares of Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating on the stock in a report on Wednesday, November 12th. HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of Syndax Pharmaceuticals in a research note on Monday, October 27th. Barclays boosted their target price on Syndax Pharmaceuticals from $22.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Monday, December 29th. Finally, UBS Group raised their target price on shares of Syndax Pharmaceuticals from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Syndax Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $37.20.

Insiders Place Their Bets

In related news, CEO Michael A. Metzger sold 17,159 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $21.03, for a total transaction of $360,853.77. Following the completion of the sale, the chief executive officer directly owned 491,690 shares of the company’s stock, valued at approximately $10,340,240.70. This represents a 3.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Keith A. Goldan sold 3,410 shares of Syndax Pharmaceuticals stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $21.03, for a total value of $71,712.30. Following the completion of the transaction, the chief financial officer owned 140,429 shares in the company, valued at $2,953,221.87. The trade was a 2.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,063 shares of company stock valued at $628,332 over the last 90 days. 4.10% of the stock is owned by corporate insiders.

Syndax Pharmaceuticals Profile

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.