Syndax Pharmaceuticals (NASDAQ:SNDX) Stock: Insider Dennis Podlesak Sells 8,000 Shares

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Director Dennis Podlesak sold 8,000 shares of the firm’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $14.21, for a total transaction of $113,680.00. Following the sale, the director owned 239,763 shares in the company, valued at approximately $3,407,032.23. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Syndax Pharmaceuticals Stock Down 3.5%

SNDX traded down $0.50 during trading on Friday, hitting $13.65. The company had a trading volume of 2,539,602 shares, compared to its average volume of 2,765,855. Syndax Pharmaceuticals, Inc. has a one year low of $12.80 and a one year high of $25.59. The firm’s 50-day moving average price is $17.18 and its 200 day moving average price is $20.25. The company has a current ratio of 6.77, a quick ratio of 6.44 and a debt-to-equity ratio of 38.95.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Tuesday, August 4th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.10). The firm had revenue of $72.79 million for the quarter, compared to the consensus estimate of $79.36 million. Syndax Pharmaceuticals had a negative return on equity of 372.94% and a negative net margin of 87.52%. Syndax Pharmaceuticals’s revenue for the quarter was up 91.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.83) EPS. As a group, equities research analysts predict that Syndax Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

Analysts Set New Price Targets

SNDX has been the topic of several research reports. Weiss Ratings cut Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, October 19th. UBS Group reaffirmed a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Thursday, October 1st. Bank of America reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a report on Wednesday, August 5th. Jefferies Financial Group reissued a “buy” rating and issued a $35.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, September 29th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Syndax Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $41.80.

Institutional Trading of Syndax Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Syndax Pharmaceuticals in the 2nd quarter valued at about $197,177,000. Bank of America Corp DE acquired a new stake in Syndax Pharmaceuticals in the 2nd quarter valued at about $88,426,000. Elmind Capital LP bought a new position in Syndax Pharmaceuticals during the second quarter worth about $40,550,300. Trails Edge Capital Partners LP bought a new position in Syndax Pharmaceuticals during the second quarter worth about $24,264,600. Finally, Bank of New York Mellon Corp bought a new position in Syndax Pharmaceuticals during the second quarter worth about $22,736,000.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc (NASDAQ:SNDX) is a biopharmaceutical company focused on developing and commercializing therapies for cancer and immune-related diseases. Founded in 2005 and headquartered in Waltham, Massachusetts, the company develops medicines designed to address genetically defined cancers and serious complications associated with cancer treatment.

Syndax’s lead product is Revuforj (revumenib), an oral menin inhibitor approved in the United States for the treatment of relapsed or refractory acute leukemia with a KMT2A translocation in eligible adults and children.