Insider Selling: Syndax Pharmaceuticals (NASDAQ:SNDX) CEO Sells 17,159 Shares of Stock

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) CEO Michael Metzger sold 17,159 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $21.03, for a total transaction of $360,853.77. Following the transaction, the chief executive officer owned 491,690 shares in the company, valued at approximately $10,340,240.70. This trade represents a 3.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Syndax Pharmaceuticals Trading Up 2.6%

Shares of Syndax Pharmaceuticals stock traded up $0.56 during trading on Tuesday, reaching $21.75. 194,044 shares of the company were exchanged, compared to its average volume of 1,262,057. The business has a 50-day moving average price of $20.72 and a 200-day moving average price of $17.14. The company has a quick ratio of 4.42, a current ratio of 4.64 and a debt-to-equity ratio of 2.78. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -6.02 and a beta of 0.46. Syndax Pharmaceuticals, Inc. has a twelve month low of $8.58 and a twelve month high of $22.73.

Analyst Ratings Changes

Several equities analysts have recently commented on SNDX shares. Wall Street Zen raised Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday. BTIG Research restated a “buy” rating and issued a $56.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 9th. JPMorgan Chase & Co. cut their target price on shares of Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 12th. HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of Syndax Pharmaceuticals in a research note on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has issued 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 an average target price of $37.20.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Syndax Pharmaceuticals by 21.2% during the fourth quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock worth $130,899,000 after purchasing an additional 1,091,717 shares during the period. Bank of America Corp DE boosted its holdings in 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 worth $35,951,000 after acquiring an additional 967,873 shares in the last quarter. Kingdon Capital Management L.L.C. increased its stake in Syndax Pharmaceuticals by 19.0% during the 3rd quarter. Kingdon Capital Management L.L.C. now owns 2,500,000 shares of the company’s stock valued at $38,462,000 after purchasing an additional 400,000 shares in the last quarter. Franklin Resources Inc. lifted its position in Syndax Pharmaceuticals by 1.3% in the 3rd quarter. Franklin Resources Inc. now owns 2,390,561 shares of the company’s stock valued at $36,779,000 after acquiring an additional 30,884 shares in the last quarter. Finally, Stempoint Capital LP increased its holdings in Syndax Pharmaceuticals by 48.4% in the 2nd quarter. Stempoint Capital LP now owns 2,372,634 shares of the company’s stock worth $22,220,000 after buying an additional 774,040 shares in the last quarter.

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.