Syndax Pharmaceuticals (NASDAQ:SNDX) CEO Michael Metzger Sells 6,847 Shares

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) CEO Michael Metzger sold 6,847 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $18.99, for a total transaction of $130,024.53. Following the completion of the transaction, the chief executive officer owned 484,843 shares in the company, valued at approximately $9,207,168.57. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Syndax Pharmaceuticals Stock Performance

Shares of Syndax Pharmaceuticals stock remained flat at $18.85 during trading hours on Tuesday. 1,492,655 shares of the stock were exchanged, compared to its average volume of 1,387,019. The business’s 50 day moving average price is $22.13 and its 200 day moving average price is $21.20. 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, Inc. has a one year low of $8.59 and a one year high of $25.59. The stock has a market capitalization of $1.67 billion, a PE ratio of -6.76 and a beta of 0.41.

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 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 company had revenue of $64.86 million for the quarter, compared to the consensus estimate of $69.76 million. During the same period last year, the firm posted ($0.98) EPS. The company’s revenue for the quarter was up 224.3% on a year-over-year basis. On average, sell-side analysts predict that Syndax Pharmaceuticals, Inc. will post -1.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Syndax Pharmaceuticals from $33.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, March 9th. Stifel Nicolaus set a $45.00 price objective on shares of Syndax Pharmaceuticals in a research report on Friday, February 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Friday, March 27th. Barclays lifted their price objective on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $40.00 price objective (down from $48.00) on shares of Syndax Pharmaceuticals in a research report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.55.

Institutional Trading of Syndax Pharmaceuticals

Several hedge funds have recently bought and sold shares of SNDX. Apis Capital Advisors LLC acquired a new position in Syndax Pharmaceuticals during the 3rd quarter valued at about $9,816,000. Palumbo Wealth Management LLC acquired a new position in Syndax Pharmaceuticals during the 4th quarter valued at about $1,079,000. Torray Investment Partners LLC acquired a new position in Syndax Pharmaceuticals during the 4th quarter valued at about $2,055,000. Keybank National Association OH acquired a new position in Syndax Pharmaceuticals during the 3rd quarter valued at about $2,305,000. Finally, SG Americas Securities LLC increased its stake in Syndax Pharmaceuticals by 184.5% during the 4th quarter. SG Americas Securities LLC now owns 129,227 shares of the company’s stock valued at $2,715,000 after buying an additional 83,801 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.