Syndax Pharmaceuticals (NASDAQ:SNDX) CMO Sells $566,602.90 in Stock

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) CMO Nicholas A.J. Botwood sold 31,235 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $18.14, for a total transaction of $566,602.90. Following the completion of the transaction, the chief marketing officer owned 60,885 shares of the company’s stock, valued at $1,104,453.90. This represents a 33.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Thursday, June 11th, Nicholas A.J. Botwood sold 34,280 shares of Syndax Pharmaceuticals stock. The shares were sold at an average price of $18.00, for a total transaction of $617,040.00.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX opened at $18.25 on Monday. Syndax Pharmaceuticals, Inc. has a 1 year low of $8.59 and a 1 year high of $25.59. The stock’s fifty day moving average price is $21.06 and its two-hundred day moving average price is $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. The company has a market cap of $1.62 billion, a P/E ratio of -6.54 and a beta of 0.38.

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, 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 company had revenue of $64.86 million during the quarter, compared to analysts’ expectations of $69.76 million. During the same period in the previous year, the business earned ($0.98) earnings per share. The firm’s quarterly revenue was up 224.3% compared to the same quarter last year. As a group, analysts expect that Syndax Pharmaceuticals, Inc. will post -1.66 EPS for the current year.

Institutional Trading of Syndax Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. ADAR1 Capital Management LLC boosted its position in shares of Syndax Pharmaceuticals by 45.8% during the 1st quarter. ADAR1 Capital Management LLC now owns 17,500 shares of the company’s stock valued at $409,000 after acquiring an additional 5,500 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Syndax Pharmaceuticals by 31.7% in the first quarter. California State Teachers Retirement System now owns 103,009 shares of the company’s stock worth $2,406,000 after purchasing an additional 24,810 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Syndax Pharmaceuticals by 56.7% in the first quarter. The Manufacturers Life Insurance Company now owns 39,904 shares of the company’s stock worth $932,000 after purchasing an additional 14,443 shares during the last quarter. Quantinno Capital Management LP raised its stake in Syndax Pharmaceuticals by 11.0% in the first quarter. Quantinno Capital Management LP now owns 22,576 shares of the company’s stock valued at $527,000 after purchasing an additional 2,237 shares in the last quarter. Finally, SummitTX Capital L.P. raised its stake in Syndax Pharmaceuticals by 69.6% in the first quarter. SummitTX Capital L.P. now owns 66,340 shares of the company’s stock valued at $1,550,000 after purchasing an additional 27,213 shares in the last quarter.

Wall Street Analyst Weigh In

SNDX has been the subject of a number of recent analyst reports. 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. JPMorgan Chase & Co. raised their price objective on shares of Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, March 9th. Barclays boosted their price objective on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Jefferies Financial Group reaffirmed a “buy” rating and set a $40.00 target price (down from $48.00) on shares of Syndax Pharmaceuticals in a report on Monday, March 30th. Finally, Citigroup increased their target price on shares of Syndax Pharmaceuticals from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. 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 company’s stock. According to data from MarketBeat, the stock 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.