Insider Selling: Syndax Pharmaceuticals (NASDAQ:SNDX) CMO Sells 34,280 Shares of Stock

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) CMO Nicholas A.J. Botwood sold 34,280 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $18.00, for a total value of $617,040.00. Following the transaction, the chief marketing officer directly owned 60,885 shares in the company, valued at $1,095,930. This trade represents a 36.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Nicholas A.J. Botwood also recently made the following trade(s):

• On Friday, June 12th, Nicholas A.J. Botwood sold 31,235 shares of Syndax Pharmaceuticals stock. The shares were sold at an average price of $18.14, for a total value of $566,602.90.

Syndax Pharmaceuticals Stock Up 1.9%

Shares of NASDAQ:SNDX traded up $0.34 during midday trading on Friday, hitting $18.25. The stock had a trading volume of 1,048,610 shares, compared to its average volume of 1,515,450. The company has a market cap of $1.62 billion, a P/E ratio of -6.54 and a beta of 0.38. Syndax Pharmaceuticals, Inc. has a 12 month low of $8.59 and a 12 month high of $25.59. The business’s 50-day simple moving average is $21.17 and its 200-day simple moving average is $21.24. The company has a quick ratio of 5.06, a current ratio of 5.47 and a debt-to-equity ratio of 8.26.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.11. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. The firm had revenue of $64.86 million during the quarter, compared to analysts’ expectations of $69.76 million. During the same quarter last year, the company posted ($0.98) earnings per share. The company’s revenue for the quarter was up 224.3% compared to the same quarter last year. On average, sell-side analysts forecast that Syndax Pharmaceuticals, Inc. will post -1.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SNDX. Jefferies Financial Group reiterated a “buy” rating and set a $40.00 price target (down from $48.00) on shares of Syndax Pharmaceuticals in a report on Monday, March 30th. Stifel Nicolaus set a $45.00 price target on Syndax Pharmaceuticals in a research report on Friday, February 27th. Barclays boosted their price target on Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Mizuho lowered their price target on Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Finally, Citigroup boosted their price target on Syndax Pharmaceuticals from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.55.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SNDX. Larson Financial Group LLC lifted its position in Syndax Pharmaceuticals by 192.2% during the third 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 during the last quarter. Quantbot Technologies LP acquired a new position in shares of Syndax Pharmaceuticals in the third quarter valued at approximately $53,000. Smartleaf Asset Management LLC grew its position in shares of Syndax Pharmaceuticals by 2,698.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock valued at $55,000 after purchasing an additional 2,564 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Syndax Pharmaceuticals during the second quarter worth approximately $66,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Syndax Pharmaceuticals by 103.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock worth $79,000 after purchasing an additional 4,308 shares during the period.

About Syndax Pharmaceuticals

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.