Traders Purchase Large Volume of Syndax Pharmaceuticals Call Options (NASDAQ:SNDX)

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) was the recipient of unusually large options trading on Wednesday. Investors purchased 2,211 call options on the stock. This is an increase of 2,111% compared to the typical volume of 100 call options.

Shares of Syndax Pharmaceuticals stock traded down $0.25 during midday trading on Wednesday, hitting $16.83. 521,997 shares of the company were exchanged, compared to its average volume of 638,168. The company has a debt-to-equity ratio of 0.06, a current ratio of 10.81 and a quick ratio of 10.81. The firm has a market cap of $831.27 million, a P/E ratio of -9.06 and a beta of 1.41. Syndax Pharmaceuticals has a 52 week low of $13.02 and a 52 week high of $27.85. The firm has a 50 day simple moving average of $18.51 and a 200-day simple moving average of $17.53.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Monday, November 15th. The company reported ($0.40) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.64) by $0.24. Syndax Pharmaceuticals had a negative return on equity of 44.26% and a negative net margin of 6,031.18%. During the same quarter in the prior year, the firm posted ($0.46) earnings per share. Equities research analysts expect that Syndax Pharmaceuticals will post -2.25 earnings per share for the current year.

SNDX has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on Syndax Pharmaceuticals from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, October 12th. Zacks Investment Research downgraded Syndax Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $27.89.

In other Syndax Pharmaceuticals news, COO Michael A. Metzger sold 4,808 shares of the company’s stock in a transaction dated Tuesday, September 21st. The stock was sold at an average price of $19.16, for a total value of $92,121.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Briggs Morrison sold 70,262 shares of the stock in a transaction dated Friday, September 17th. The shares were sold at an average price of $20.07, for a total value of $1,410,158.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 158,291 shares of company stock valued at $3,088,194. Company insiders own 7.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System lifted its position in shares of Syndax Pharmaceuticals by 8.6% during the 2nd quarter. Arizona State Retirement System now owns 10,247 shares of the company’s stock worth $176,000 after buying an additional 812 shares during the period. Ameritas Investment Partners Inc. raised its position in Syndax Pharmaceuticals by 48.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,525 shares of the company’s stock valued at $61,000 after purchasing an additional 1,145 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Syndax Pharmaceuticals by 36.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,473 shares of the company’s stock valued at $111,000 after purchasing an additional 1,729 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Syndax Pharmaceuticals by 380.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,400 shares of the company’s stock valued at $41,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Swiss National Bank raised its position in Syndax Pharmaceuticals by 2.6% in the 3rd quarter. Swiss National Bank now owns 85,300 shares of the company’s stock valued at $1,630,000 after purchasing an additional 2,200 shares during the last quarter.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company, which engages in the development of cancer therapies. Its product candidates include SNDX-5613 and SNDX-6352. The company was founded by Richard A. Heyman, Eckard Weber, Peter Ordentlich, Ronald M. Evans and Michael Downes on October 11, 2005 and is headquartered in Waltham, MA.

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