Insider Selling: Syndax Pharmaceuticals (NASDAQ:SNDX) CFO Sells $22,351.23 in Stock

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) CFO Keith Goldan sold 1,177 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $18.99, for a total transaction of $22,351.23. Following the completion of the transaction, the chief financial officer directly owned 139,252 shares of the company’s stock, valued at $2,644,395.48. This represents a 0.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Syndax Pharmaceuticals Trading Down 1.7%

Shares of NASDAQ:SNDX opened at $18.02 on Friday. The firm has a fifty day moving average of $21.78 and a two-hundred day moving average of $21.23. The firm has a market capitalization of $1.60 billion, a P/E ratio of -6.46 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 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 issued its 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. The company had revenue of $64.86 million during the quarter, compared to analyst estimates of $69.76 million. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. The company’s revenue for the quarter was up 224.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.98) EPS. On average, equities analysts expect that Syndax Pharmaceuticals, Inc. will post -1.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Citigroup lifted their target price on shares of Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Barclays lifted their target price on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Friday, March 27th. HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of Syndax Pharmaceuticals in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $42.55.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SNDX. AQR Capital Management LLC raised its holdings in shares of Syndax Pharmaceuticals by 478.8% during the 1st quarter. AQR Capital Management LLC now owns 377,444 shares of the company’s stock valued at $4,637,000 after purchasing an additional 312,231 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 valued at $705,000 after purchasing an additional 3,094 shares in the last quarter. Caxton Associates LLP bought 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 raised its holdings in shares of Syndax Pharmaceuticals by 18.0% during the 1st 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 purchasing an additional 30,596 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Syndax Pharmaceuticals by 4.9% during the 2nd quarter. Legal & General Group Plc now owns 84,575 shares of the company’s stock valued at $792,000 after purchasing an additional 3,937 shares in the last quarter.

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.