Syndax Pharmaceuticals (NASDAQ:SNDX) CEO Sells $130,024.53 in Stock

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

Syndax Pharmaceuticals Stock Performance

NASDAQ SNDX opened at $18.02 on Friday. Syndax Pharmaceuticals, Inc. has a 1-year low of $8.59 and a 1-year high of $25.59. The company has a market capitalization of $1.60 billion, a P/E ratio of -6.46 and a beta of 0.38. The business has a 50 day moving average price of $21.78 and a 200 day moving average price of $21.23. 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 released its quarterly earnings data on Thursday, April 30th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.11. Syndax Pharmaceuticals had a negative return on equity of 256.65% and a negative net margin of 111.88%.The firm had revenue of $64.86 million during the quarter, compared to the consensus estimate of $69.76 million. During the same period last year, the business posted ($0.98) EPS. Syndax Pharmaceuticals’s quarterly revenue was up 224.3% on a year-over-year basis. Sell-side analysts expect that Syndax Pharmaceuticals, Inc. will post -1.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. UBS Group dropped their price objective on Syndax Pharmaceuticals from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Barclays raised their price objective 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 reaffirmed a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Friday, March 27th. Wall Street Zen upgraded Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Stifel Nicolaus set a $45.00 target price on Syndax Pharmaceuticals in a report on Friday, February 27th. One equities 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 company. According to MarketBeat, Syndax Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.55.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of large investors have recently bought and sold shares of SNDX. Larson Financial Group LLC grew its holdings in Syndax Pharmaceuticals by 192.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock valued at $45,000 after buying an additional 1,922 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Syndax Pharmaceuticals during the 3rd quarter valued at $53,000. Smartleaf Asset Management LLC grew its holdings in Syndax Pharmaceuticals by 2,698.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock valued at $55,000 after buying an additional 2,564 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Syndax Pharmaceuticals during the 2nd quarter valued at $66,000. Finally, Tower Research Capital LLC TRC grew its holdings in Syndax Pharmaceuticals by 103.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock valued at $79,000 after buying an additional 4,308 shares during 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.