Syndax Pharmaceuticals (NASDAQ:SNDX) CEO Michael Metzger Sells 32,375 Shares of Stock

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) CEO Michael Metzger sold 32,375 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $24.24, for a total value of $784,770.00. Following the transaction, the chief executive officer directly owned 484,843 shares of the company’s stock, valued at $11,752,594.32. The trade was a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Syndax Pharmaceuticals Price Performance

SNDX stock opened at $24.84 on Friday. The business’s 50-day moving average is $20.04 and its two-hundred day moving average is $21.35. The company has a debt-to-equity ratio of 8.26, a current ratio of 5.47 and a quick ratio of 5.06. The firm has a market capitalization of $2.20 billion, a P/E ratio of -8.90 and a beta of 0.37. Syndax Pharmaceuticals, Inc. has a 1 year low of $9.03 and a 1 year high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings data on Thursday, April 30th. The company reported ($0.48) EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $69.76 million. During the same period in the previous year, the company posted ($0.98) earnings per share. The business’s revenue for the quarter was up 224.3% on a year-over-year basis. Analysts anticipate that Syndax Pharmaceuticals, Inc. will post -1.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SNDX has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their target price on shares of Syndax Pharmaceuticals from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. Barclays upped their price objective on Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. UBS Group reissued a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Friday, June 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Wednesday, June 24th. Finally, Mizuho dropped their price target on shares of Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Syndax Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $42.55.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Palumbo Wealth Management LLC purchased a new stake in Syndax Pharmaceuticals in the 4th quarter valued at $1,079,000. Apis Capital Advisors LLC acquired a new stake in Syndax Pharmaceuticals during the 3rd quarter worth $9,816,000. Torray Investment Partners LLC purchased a new position in Syndax Pharmaceuticals during the 4th quarter worth $2,055,000. SG Americas Securities LLC grew its position in Syndax Pharmaceuticals by 184.5% during the 4th quarter. SG Americas Securities LLC now owns 129,227 shares of the company’s stock worth $2,715,000 after purchasing an additional 83,801 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Syndax Pharmaceuticals by 236.0% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 183,802 shares of the company’s stock valued at $3,862,000 after purchasing an additional 129,104 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.