Syndax Pharmaceuticals (NASDAQ:SNDX) CEO Sells $360,853.77 in Stock

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) CEO Michael Metzger sold 17,159 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $10,340,240.70. This trade represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX opened at $21.14 on Friday. The company has a debt-to-equity ratio of 2.78, a quick ratio of 4.42 and a current ratio of 4.64. The stock has a market capitalization of $1.84 billion, a P/E ratio of -5.86 and a beta of 0.46. The company has a 50 day moving average price of $20.83 and a 200 day moving average price of $17.29. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $8.58 and a fifty-two week high of $22.73.

Institutional Trading of Syndax Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its holdings in Syndax Pharmaceuticals by 192.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock worth $45,000 after acquiring an additional 1,922 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Syndax Pharmaceuticals during the 3rd quarter worth $53,000. Lazard Asset Management LLC acquired a new position in shares of Syndax Pharmaceuticals during the second quarter worth $66,000. Tower Research Capital LLC TRC increased its holdings in Syndax Pharmaceuticals by 103.3% in the second quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock valued at $79,000 after buying an additional 4,308 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Syndax Pharmaceuticals by 26.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock valued at $89,000 after buying an additional 893 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SNDX. JPMorgan Chase & Co. decreased their target price on Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Monday, December 29th. HC Wainwright reissued a “buy” rating and issued a $40.00 price objective on shares of Syndax Pharmaceuticals in a research note on Monday, October 27th. BTIG Research reaffirmed a “buy” rating and set a $56.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 9th. Finally, Wall Street Zen upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Syndax Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $37.20.

Syndax Pharmaceuticals Company 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.