Syndax Pharmaceuticals (NASDAQ:SNDX) CMO Sells $617,040.00 in Stock

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) CMO Nicholas A.J. Botwood sold 34,280 shares of the firm’s stock in a transaction dated 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 $1,095,930. This trade represents a 36.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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

Shares of SNDX stock opened at $18.25 on Monday. The stock has a market capitalization of $1.62 billion, a PE ratio of -6.54 and a beta of 0.38. The business’s 50 day simple moving average is $21.06 and its 200 day simple moving average is $21.23. The company has a debt-to-equity ratio of 8.26, a current ratio of 5.47 and a quick ratio of 5.06. Syndax Pharmaceuticals, Inc. has a one year low of $8.59 and a one year high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.11. The firm had revenue of $64.86 million during the quarter, compared to analyst estimates 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 was up 224.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.98) EPS. As a group, research analysts forecast that Syndax Pharmaceuticals, Inc. will post -1.66 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on SNDX shares. Wall Street Zen upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Friday, March 27th. Citigroup lifted their price objective on Syndax Pharmaceuticals from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Jefferies Financial Group reissued a “buy” rating and issued a $40.00 price objective (down from $48.00) on shares of Syndax Pharmaceuticals in a research note on Monday, March 30th. Finally, The Goldman Sachs Group upped their target price on Syndax Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Syndax Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $42.55.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. ADAR1 Capital Management LLC increased its stake in Syndax Pharmaceuticals by 45.8% in the first quarter. ADAR1 Capital Management LLC now owns 17,500 shares of the company’s stock valued at $409,000 after purchasing an additional 5,500 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Syndax Pharmaceuticals by 31.7% during the first quarter. California State Teachers Retirement System now owns 103,009 shares of the company’s stock valued at $2,406,000 after purchasing an additional 24,810 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Syndax Pharmaceuticals by 56.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 39,904 shares of the company’s stock worth $932,000 after purchasing an additional 14,443 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Syndax Pharmaceuticals by 11.0% during the 1st quarter. Quantinno Capital Management LP now owns 22,576 shares of the company’s stock worth $527,000 after purchasing an additional 2,237 shares in the last quarter. Finally, SummitTX Capital L.P. grew its stake in shares of Syndax Pharmaceuticals by 69.6% in the 1st quarter. SummitTX Capital L.P. now owns 66,340 shares of the company’s stock valued at $1,550,000 after buying an additional 27,213 shares during the period.

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.