Syndax Pharmaceuticals (NASDAQ:SNDX) CMO Nicholas A.J. Botwood Sells 34,280 Shares of Stock

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) CMO Nicholas A.J. Botwood sold 34,280 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $18.00, for a total value of $617,040.00. Following the transaction, the chief marketing officer owned 60,885 shares of the company’s stock, valued at approximately $1,095,930. This represents a 36.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Friday, June 12th, Nicholas A.J. Botwood sold 31,235 shares of Syndax Pharmaceuticals stock. The stock was sold at an average price of $18.14, for a total value of $566,602.90.

Syndax Pharmaceuticals Stock Performance

NASDAQ SNDX opened at $18.25 on Friday. The stock has a market cap of $1.62 billion, a PE ratio of -6.54 and a beta of 0.38. 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 twelve month low of $8.59 and a twelve month high of $25.59. The stock has a fifty day simple moving average of $21.06 and a 200-day simple moving average of $21.22.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $64.86 million during the quarter, compared to analysts’ expectations of $69.76 million. During the same period in the prior year, the business posted ($0.98) EPS. The company’s revenue was up 224.3% compared to the same quarter last year. Equities analysts anticipate that Syndax Pharmaceuticals, Inc. will post -1.66 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings 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 purchasing an additional 1,091,717 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Syndax Pharmaceuticals by 3.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,695,375 shares of the company’s stock valued at $119,660,000 after buying an additional 208,941 shares in the last quarter. State Street Corp boosted its stake in shares of Syndax Pharmaceuticals by 19.3% in the fourth quarter. State Street Corp now owns 4,596,552 shares of the company’s stock valued at $96,574,000 after buying an additional 743,003 shares in the last quarter. Bank of America Corp DE boosted its stake 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 valued at $35,951,000 after buying an additional 967,873 shares in the last quarter. Finally, Kingdon Capital Management L.L.C. boosted its stake in shares of Syndax Pharmaceuticals by 19.0% in the third quarter. Kingdon Capital Management L.L.C. now owns 2,500,000 shares of the company’s stock valued at $38,462,000 after buying an additional 400,000 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SNDX. Stifel Nicolaus set a $45.00 target price on Syndax Pharmaceuticals in a research report on Friday, February 27th. JPMorgan Chase & Co. lifted their price target on Syndax Pharmaceuticals from $33.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, March 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Friday, March 27th. The Goldman Sachs Group lifted their price target on Syndax Pharmaceuticals from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, April 1st. Finally, Citigroup lifted their price target on Syndax Pharmaceuticals from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.55.

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.