Syndax Pharmaceuticals (NASDAQ:SNDX) CEO Michael Metzger Sells 6,847 Shares

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

Syndax Pharmaceuticals Price Performance

Shares of SNDX stock opened at $18.39 on Wednesday. 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 capitalization of $1.63 billion, a P/E ratio of -6.59 and a beta of 0.38. The company’s 50-day simple moving average is $22.13 and its two-hundred day simple moving average is $21.20. Syndax Pharmaceuticals, Inc. has a one year low of $8.59 and a one year high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its earnings results on Thursday, April 30th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.11. The business had revenue of $64.86 million for the quarter, compared to the consensus estimate of $69.76 million. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. The company’s revenue for the quarter was up 224.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.98) EPS. As a group, equities analysts anticipate that Syndax Pharmaceuticals, Inc. will post -1.66 EPS for the current year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Syndax Pharmaceuticals by 21.2% during the fourth 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 last quarter. Goldman Sachs Group Inc. lifted its position in Syndax Pharmaceuticals by 3.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,695,375 shares of the company’s stock valued at $119,660,000 after acquiring an additional 208,941 shares during the last quarter. State Street Corp lifted its position in Syndax Pharmaceuticals by 19.3% during the fourth quarter. State Street Corp now owns 4,596,552 shares of the company’s stock valued at $96,574,000 after acquiring an additional 743,003 shares during the last quarter. Bank of America Corp DE lifted its position in Syndax Pharmaceuticals by 33.7% during 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 acquiring an additional 967,873 shares during the last quarter. Finally, Kingdon Capital Management L.L.C. lifted its position in Syndax Pharmaceuticals by 19.0% during 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 acquiring an additional 400,000 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Friday, March 27th. Jefferies Financial Group reiterated a “buy” rating and set a $40.00 price objective (down from $48.00) on shares of Syndax Pharmaceuticals in a research note on Monday, March 30th. The Goldman Sachs Group increased their price objective on shares of Syndax Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.