Michael Metzger Sells 6,847 Shares of Syndax Pharmaceuticals (NASDAQ:SNDX) Stock

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) CEO Michael Metzger sold 6,847 shares of Syndax Pharmaceuticals stock in a transaction on Monday, June 1st. The shares were sold at an average price of $18.99, for a total value of $130,024.53. Following the completion of the transaction, the chief executive officer owned 484,843 shares in the company, valued at $9,207,168.57. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Syndax Pharmaceuticals Trading Down 0.3%

Shares of NASDAQ:SNDX opened at $18.34 on Thursday. Syndax Pharmaceuticals, Inc. has a 12-month low of $8.59 and a 12-month high of $25.59. The business’s fifty day simple moving average is $21.90 and its 200-day simple moving average is $21.22. The company has a market capitalization of $1.63 billion, a PE ratio of -6.57 and a beta of 0.38. The company has a current ratio of 5.47, a quick ratio of 5.06 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) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.11. Syndax Pharmaceuticals had a negative return on equity of 256.65% and a negative net margin of 111.88%.The business had revenue of $64.86 million for the quarter, compared to the consensus estimate of $69.76 million. During the same period last year, the business posted ($0.98) EPS. The business’s revenue was up 224.3% compared to the same quarter last year. As a group, equities research analysts predict that Syndax Pharmaceuticals, Inc. will post -1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew its stake in Syndax Pharmaceuticals by 2,698.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock worth $55,000 after buying an additional 2,564 shares during the last quarter. Larson Financial Group LLC grew its stake 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 buying an additional 1,922 shares during the last quarter. Quantbot Technologies LP purchased a new position in Syndax Pharmaceuticals during the 3rd quarter worth $53,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Syndax Pharmaceuticals by 26.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock worth $89,000 after buying an additional 893 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Syndax Pharmaceuticals during the 2nd quarter worth $66,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SNDX. The Goldman Sachs Group lifted their price target on Syndax Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. JPMorgan Chase & Co. lifted their price target on Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, March 9th. Stifel Nicolaus set a $45.00 price target on Syndax Pharmaceuticals in a report on Friday, February 27th. HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Syndax Pharmaceuticals in a research note on Wednesday. Finally, Wall Street Zen upgraded Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.55.

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.