abrdn plc Takes Position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

abrdn plc bought a new stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 99,340 shares of the company's stock, valued at approximately $1,313,000. abrdn plc owned 0.12% of Syndax Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Syndax Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company's stock valued at $58,000 after purchasing an additional 541 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Syndax Pharmaceuticals during the 2nd quarter valued at about $27,000. Values First Advisors Inc. purchased a new stake in shares of Syndax Pharmaceuticals during the 3rd quarter valued at about $30,000. China Universal Asset Management Co. Ltd. increased its position in shares of Syndax Pharmaceuticals by 10.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,099 shares of the company's stock valued at $239,000 after purchasing an additional 1,732 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Syndax Pharmaceuticals during the 4th quarter valued at about $26,000.

Syndax Pharmaceuticals Stock Performance

SNDX traded down $0.16 during trading on Friday, reaching $14.92. 1,304,942 shares of the company traded hands, compared to its average volume of 2,289,658. The company has a market cap of $1.27 billion, a P/E ratio of -4.11 and a beta of 0.90. Syndax Pharmaceuticals, Inc. has a 12-month low of $12.06 and a 12-month high of $25.34. The firm has a fifty day simple moving average of $13.88 and a 200 day simple moving average of $17.19.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SNDX shares. The Goldman Sachs Group increased their target price on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. HC Wainwright reissued a "buy" rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, December 10th. UBS Group started coverage on shares of Syndax Pharmaceuticals in a report on Thursday, October 24th. They issued a "buy" rating and a $37.00 target price for the company. Scotiabank reduced their target price on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a "sector perform" rating for the company in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an "overweight" rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.20.

Insider Activity

In other news, CEO Michael A. Metzger sold 13,288 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction of $205,964.00. Following the completion of the transaction, the chief executive officer now directly owns 300,121 shares in the company, valued at approximately $4,651,875.50. This represents a 4.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Neil Gallagher sold 4,618 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $71,579.00. Following the transaction, the insider now owns 85,095 shares of the company's stock, valued at $1,318,972.50. This represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,683 shares of company stock worth $336,087. 4.10% of the stock is currently owned by insiders.

Syndax Pharmaceuticals Company 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).