Syndax Pharmaceuticals (NASDAQ:SNDX) CEO Michael Metzger Sells 17,159 Shares

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 value of $360,853.77. Following the completion of the transaction, the chief executive officer directly owned 491,690 shares in the company, valued at approximately $10,340,240.70. The trade was a 3.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Syndax Pharmaceuticals Stock Up 0.6%

Shares of Syndax Pharmaceuticals stock opened at $21.32 on Wednesday. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -5.91 and a beta of 0.46. The stock has a 50-day simple moving average of $20.77 and a 200-day simple moving average of $17.23. Syndax Pharmaceuticals, Inc. has a 52-week low of $8.58 and a 52-week high of $22.73. The company has a debt-to-equity ratio of 2.78, a current ratio of 4.64 and a quick ratio of 4.42.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday. HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Syndax Pharmaceuticals in a report on Monday, October 27th. BTIG Research reiterated a “buy” rating and set a $56.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 9th. Barclays increased their price objective on Syndax Pharmaceuticals from $22.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, November 24th. Finally, JPMorgan Chase & Co. reduced their target price on Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Syndax Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $37.20.

Institutional Trading of Syndax Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNDX. AQR Capital Management LLC lifted its holdings in shares of Syndax Pharmaceuticals by 478.8% during the first quarter. AQR Capital Management LLC now owns 377,444 shares of the company’s stock worth $4,637,000 after buying an additional 312,231 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Syndax Pharmaceuticals by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,842 shares of the company’s stock worth $705,000 after acquiring an additional 3,094 shares during the period. Caxton Associates LLP acquired a new position in Syndax Pharmaceuticals during the 1st quarter valued at $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Syndax Pharmaceuticals by 18.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 200,696 shares of the company’s stock valued at $2,466,000 after purchasing an additional 30,596 shares during the period. Finally, Aberdeen Group plc boosted its holdings in Syndax Pharmaceuticals by 129.1% in the 2nd quarter. Aberdeen Group plc now owns 303,426 shares of the company’s stock valued at $2,842,000 after purchasing an additional 170,993 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.