Insider Selling: Syndax Pharmaceuticals (NASDAQ:SNDX) CFO Sells 2,082 Shares of Stock

by · The Markets Daily

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX – Get Free Report) CFO Keith Goldan sold 2,082 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $20.62, for a total value of $42,930.84. Following the sale, the chief financial officer owned 143,839 shares in the company, valued at approximately $2,965,960.18. This trade represents a 1.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Syndax Pharmaceuticals Stock Up 4.3%

Shares of SNDX traded up $0.86 during midday trading on Friday, hitting $21.01. The company had a trading volume of 1,480,024 shares, compared to its average volume of 1,314,729. Syndax Pharmaceuticals, Inc. has a 1 year low of $8.58 and a 1 year high of $22.73. The firm has a market capitalization of $1.83 billion, a P/E ratio of -5.82 and a beta of 0.46. The company has a debt-to-equity ratio of 2.78, a quick ratio of 4.42 and a current ratio of 4.64. The company’s 50-day simple moving average is $20.66 and its 200-day simple moving average is $16.89.

Syndax Pharmaceuticals (NASDAQ:SNDX – Get Free Report) last issued its earnings results on Monday, November 3rd. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.04. Syndax Pharmaceuticals had a negative net margin of 279.31% and a negative return on equity of 160.60%. The firm had revenue of $45.87 million for the quarter, compared to analysts’ expectations of $49.08 million. During the same quarter last year, the company earned ($0.98) earnings per share. The firm’s revenue was up 266.4% compared to the same quarter last year. As a group, sell-side analysts expect that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SNDX shares. JPMorgan Chase & Co. reduced their price objective on shares of Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating on the stock in a report on Wednesday, November 12th. HC Wainwright reissued a “buy” rating and issued a $40.00 target price on shares of Syndax Pharmaceuticals in a report on Monday, October 27th. UBS Group lifted their price target on Syndax Pharmaceuticals from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Monday, December 29th. Finally, Wall Street Zen lowered Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.20.

Check Out Our Latest Stock Analysis on SNDX

Institutional Trading of Syndax Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pallas Capital Advisors LLC boosted its position in shares of Syndax Pharmaceuticals by 8.7% in the 4th quarter. Pallas Capital Advisors LLC now owns 10,985 shares of the company’s stock valued at $231,000 after purchasing an additional 875 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Syndax Pharmaceuticals by 26.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock valued at $89,000 after buying an additional 893 shares during the last quarter. Schroder Investment Management Group lifted its stake in Syndax Pharmaceuticals by 1.0% in the third quarter. Schroder Investment Management Group now owns 123,404 shares of the company’s stock valued at $1,920,000 after buying an additional 1,241 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Syndax Pharmaceuticals by 9.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 17,562 shares of the company’s stock valued at $374,000 after acquiring an additional 1,455 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of Syndax Pharmaceuticals by 8.7% during the fourth quarter. HighTower Advisors LLC now owns 18,940 shares of the company’s stock worth $398,000 after acquiring an additional 1,517 shares during the last quarter.

Syndax Pharmaceuticals Company Profile

(Get Free Report)

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.

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