Insider Selling: Syndax Pharmaceuticals (NASDAQ:SNDX) CMO Sells 34,280 Shares of Stock

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) CMO Nicholas A.J. Botwood sold 34,280 shares of Syndax Pharmaceuticals stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $18.00, for a total transaction of $617,040.00. Following the transaction, the chief marketing officer directly owned 60,885 shares in the company, valued at approximately $1,095,930. This represents a 36.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Nicholas A.J. Botwood also recently made the following trade(s):

• On Friday, June 12th, Nicholas A.J. Botwood sold 31,235 shares of Syndax Pharmaceuticals stock. The stock was sold at an average price of $18.14, for a total transaction of $566,602.90.

Syndax Pharmaceuticals Trading Up 1.9%

Shares of NASDAQ SNDX traded up $0.34 during midday trading on Friday, reaching $18.25. 1,048,610 shares of the stock were exchanged, compared to its average volume of 1,515,450. The business has a 50-day simple moving average of $21.17 and a two-hundred day simple moving average of $21.24. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -6.54 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 debt-to-equity ratio of 8.26, a current ratio of 5.47 and a quick ratio of 5.06.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.11. The company had revenue of $64.86 million for the quarter, compared to analysts’ expectations of $69.76 million. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. The business’s quarterly revenue was up 224.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.98) earnings per share. As a group, equities research analysts expect that Syndax Pharmaceuticals, Inc. will post -1.66 EPS for the current year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Palumbo Wealth Management LLC bought a new position in shares of Syndax Pharmaceuticals during the 4th quarter worth approximately $1,079,000. Apis Capital Advisors LLC bought a new position in shares of Syndax Pharmaceuticals during the 3rd quarter worth approximately $9,816,000. Torray Investment Partners LLC bought a new position in shares of Syndax Pharmaceuticals during the 4th quarter worth approximately $2,055,000. SG Americas Securities LLC increased its position 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, Vanguard Group Inc. raised its holdings in Syndax Pharmaceuticals by 2.1% during the third quarter. Vanguard Group Inc. now owns 5,138,617 shares of the company’s stock worth $79,058,000 after acquiring an additional 104,683 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SNDX shares. Barclays increased their price objective on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Friday, March 27th. The Goldman Sachs Group increased their target price on Syndax Pharmaceuticals from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Mizuho cut their price target on Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $40.00 price objective on shares of Syndax Pharmaceuticals in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average 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.