Insider Selling: Syndax Pharmaceuticals (NASDAQ:SNDX) CEO Sells $784,770.00 in Stock

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) CEO Michael Metzger sold 32,375 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $24.24, for a total transaction of $784,770.00. Following the completion of the sale, the chief executive officer owned 484,843 shares in the company, valued at approximately $11,752,594.32. The trade was a 6.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX traded down $1.23 during trading hours on Friday, hitting $23.61. 2,100,762 shares of the company traded hands, compared to its average volume of 2,125,345. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -8.46 and a beta of 0.37. Syndax Pharmaceuticals, Inc. has a twelve month low of $9.03 and a twelve month high of $25.59. The firm has a 50-day moving average of $20.10 and a 200 day moving average of $21.36. 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 posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $64.86 million for the quarter, compared to analyst estimates of $69.76 million. During the same period last year, the business posted ($0.98) EPS. The business’s quarterly revenue was up 224.3% on a year-over-year basis. On average, analysts forecast that Syndax Pharmaceuticals, Inc. will post -1.65 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SNDX shares. Barclays boosted their price target on 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 report on Wednesday, June 24th. HC Wainwright restated a “buy” rating and set a $40.00 price objective on shares of Syndax Pharmaceuticals in a research report on Friday, June 12th. The Goldman Sachs Group upped their target price on Syndax Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Finally, Mizuho reduced their target price on Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.55.

Institutional Investors Weigh In On Syndax Pharmaceuticals

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

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.