Insider Selling: Syndax Pharmaceuticals (NASDAQ:SNDX) Director Sells $113,680.00 in Stock

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Director Dennis Podlesak sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $14.21, for a total value of $113,680.00. Following the transaction, the director directly owned 239,763 shares in the company, valued at $3,407,032.23. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Syndax Pharmaceuticals Stock Down 3.5%

SNDX traded down $0.50 during trading hours on Friday, reaching $13.65. The company’s stock had a trading volume of 2,539,602 shares, compared to its average volume of 2,765,855. Syndax Pharmaceuticals, Inc. has a 52 week low of $12.80 and a 52 week high of $25.59. The company’s 50-day moving average is $17.18 and its 200-day moving average is $20.25. The company has a quick ratio of 6.44, a current ratio of 6.77 and a debt-to-equity ratio of 38.95.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.10). Syndax Pharmaceuticals had a negative return on equity of 372.94% and a negative net margin of 87.52%. The company had revenue of $72.79 million for the quarter, compared to the consensus estimate of $79.36 million. During the same period last year, the firm earned ($0.83) earnings per share. The company’s revenue for the quarter was up 91.8% compared to the same quarter last year. Sell-side analysts forecast that Syndax Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of SNDX. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Syndax Pharmaceuticals in the third quarter valued at about $86,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Syndax Pharmaceuticals by 15.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 16,293 shares of the company’s stock valued at $297,000 after acquiring an additional 2,191 shares in the last quarter. Sterling Capital Management LLC grew its stake in shares of Syndax Pharmaceuticals by 846.6% in the third quarter. Sterling Capital Management LLC now owns 2,963 shares of the company’s stock valued at $56,000 after acquiring an additional 2,650 shares in the last quarter. Inspire Investing LLC increased its position in Syndax Pharmaceuticals by 10.2% during the third quarter. Inspire Investing LLC now owns 34,122 shares of the company’s stock worth $641,000 after acquiring an additional 3,157 shares during the period. Finally, Tidal Investments LLC increased its position in Syndax Pharmaceuticals by 10.5% during the second quarter. Tidal Investments LLC now owns 72,212 shares of the company’s stock worth $1,579,000 after acquiring an additional 6,886 shares during the period.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SNDX. Bank of America restated a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Wednesday, August 5th. UBS Group reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Thursday, October 1st. JPMorgan Chase & Co. lowered their price target on shares of Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Jefferies Financial Group restated a “buy” rating and set a $35.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, September 29th. Finally, Weiss Ratings cut Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, October 19th. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.80.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc (NASDAQ:SNDX) is a biopharmaceutical company focused on developing and commercializing therapies for cancer and immune-related diseases. Founded in 2005 and headquartered in Waltham, Massachusetts, the company develops medicines designed to address genetically defined cancers and serious complications associated with cancer treatment.

Syndax’s lead product is Revuforj (revumenib), an oral menin inhibitor approved in the United States for the treatment of relapsed or refractory acute leukemia with a KMT2A translocation in eligible adults and children.