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 Syndax Pharmaceuticals stock in a transaction dated Wednesday, July 8th. The shares were 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 directly 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 filing with the Securities & Exchange Commission, which is accessible through this link.

Syndax Pharmaceuticals Stock Performance

Shares of Syndax Pharmaceuticals stock traded up $0.28 on Thursday, reaching $24.84. 1,441,236 shares of the stock were exchanged, compared to its average volume of 1,637,114. The firm has a market capitalization of $2.20 billion, a PE 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. The business has a fifty day moving average price of $19.97 and a two-hundred day moving average price of $21.32. 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 announced its quarterly earnings data on Thursday, April 30th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $64.86 million during the quarter, compared to the consensus estimate of $69.76 million. During the same quarter last year, the firm earned ($0.98) earnings per share. The firm’s revenue was up 224.3% compared to the same quarter last year. As a group, research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -1.65 earnings per share for the current fiscal year.

Institutional Trading of Syndax Pharmaceuticals

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Syndax Pharmaceuticals by 21.2% in the fourth quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock valued at $130,899,000 after buying an additional 1,091,717 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Syndax Pharmaceuticals by 3.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,695,375 shares of the company’s stock worth $119,660,000 after buying an additional 208,941 shares in the last quarter. State Street Corp boosted its position in shares of Syndax Pharmaceuticals by 19.3% in the 4th quarter. State Street Corp now owns 4,596,552 shares of the company’s stock worth $96,574,000 after buying an additional 743,003 shares in the last quarter. Bank of America Corp DE grew its stake in Syndax Pharmaceuticals by 33.7% in the 2nd quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock valued at $35,951,000 after acquiring an additional 967,873 shares during the last quarter. Finally, Kingdon Capital Management L.L.C. grew its stake in Syndax Pharmaceuticals by 19.0% in the 3rd quarter. Kingdon Capital Management L.L.C. now owns 2,500,000 shares of the company’s stock valued at $38,462,000 after acquiring an additional 400,000 shares during the last quarter.

Wall Street Analyst Weigh In

SNDX has been the subject of several recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of Syndax Pharmaceuticals in a report on Friday, June 12th. The Goldman Sachs Group upped their price objective on Syndax Pharmaceuticals from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. UBS Group reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Friday, June 12th. Mizuho reduced their target price on Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Tuesday, March 31st. Finally, Barclays raised their target price on Syndax Pharmaceuticals from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, May 1st. One investment 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.55.

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.