Michael Metzger Sells 7,412 Shares of Syndax Pharmaceuticals (NASDAQ:SNDX) Stock

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) CEO Michael Metzger sold 7,412 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $20.62, for a total transaction of $152,835.44. Following the sale, the chief executive officer owned 508,849 shares of the company’s stock, valued at approximately $10,492,466.38. This represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Syndax Pharmaceuticals Trading Up 4.3%

NASDAQ:SNDX opened at $21.01 on Friday. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -5.82 and a beta of 0.46. The company has a quick ratio of 4.42, a current ratio of 4.64 and a debt-to-equity ratio of 2.78. The company’s 50 day moving average price is $20.67 and its 200-day moving average price is $17.02. Syndax Pharmaceuticals, Inc. has a 52 week low of $8.58 and a 52 week high of $22.73.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Syndax Pharmaceuticals by 21.2% during the 4th quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock valued at $130,899,000 after acquiring an additional 1,091,717 shares during the period. Bank of America Corp DE boosted its position in shares of Syndax Pharmaceuticals by 33.7% in the second quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock worth $35,951,000 after purchasing an additional 967,873 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Syndax Pharmaceuticals by 99.5% in the second quarter. Qube Research & Technologies Ltd now owns 1,665,916 shares of the company’s stock worth $15,601,000 after purchasing an additional 831,067 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of Syndax Pharmaceuticals by 126.8% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,432,440 shares of the company’s stock valued at $13,415,000 after purchasing an additional 800,800 shares during the period. Finally, Stempoint Capital LP raised its position in shares of Syndax Pharmaceuticals by 48.4% during the 2nd quarter. Stempoint Capital LP now owns 2,372,634 shares of the company’s stock valued at $22,220,000 after purchasing an additional 774,040 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SNDX. Barclays lifted their price target on shares of Syndax Pharmaceuticals from $22.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, November 24th. JPMorgan Chase & Co. cut their target price on shares of Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating for the company in a research report on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Monday, December 29th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Syndax Pharmaceuticals in a report on Monday, October 27th. Finally, UBS Group upped their price objective on Syndax Pharmaceuticals from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.20.

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.