Syndax Pharmaceuticals (NASDAQ:SNDX) Director Dennis Podlesak Sells 19,200 Shares

Key Points

• Director Dennis Podlesak sold 19,200 shares of Syndax Pharmaceuticals for a total value of $298,368, reducing his position by 9.10% to 191,763 shares.
• The company reported a significant increase in revenue, with a 984.5% year-over-year growth, and earnings per share of ($0.83), which beat analysts' estimates by $0.18.
• Syndax Pharmaceuticals has a market cap of $1.37 billion and recently received various ratings from analysts, ranging from "sell" to multiple "buy" ratings with a consensus average price target of $38.00.

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) Director Dennis Podlesak sold 19,200 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $15.54, for a total value of $298,368.00. Following the sale, the director owned 191,763 shares of the company's stock, valued at $2,979,997.02. This trade represents a 9.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Dennis Podlesak also recently made the following trade(s):

• On Monday, August 18th, Dennis Podlesak sold 19,200 shares of Syndax Pharmaceuticals stock. The shares were sold at an average price of $15.84, for a total value of $304,128.00.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ:SNDX traded up $0.2130 on Friday, reaching $16.0530. 363,541 shares of the company traded hands, compared to its average volume of 2,236,506. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $8.58 and a fifty-two week high of $22.50. The company's 50 day moving average is $10.73 and its 200-day moving average is $11.93. The stock has a market capitalization of $1.38 billion, a PE ratio of -4.13 and a beta of 0.74. The company has a debt-to-equity ratio of 2.06, a current ratio of 4.71 and a quick ratio of 4.55.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported ($0.83) EPS for the quarter, beating analysts' consensus estimates of ($1.01) by $0.18. Syndax Pharmaceuticals had a negative return on equity of 130.47% and a negative net margin of 428.48%.The company had revenue of $37.96 million during the quarter, compared to the consensus estimate of $26.64 million. During the same quarter in the prior year, the firm earned ($0.80) EPS. The company's quarterly revenue was up 984.5% compared to the same quarter last year. As a group, analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SNDX shares. Citigroup increased their target price on Syndax Pharmaceuticals from $46.00 to $51.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Wall Street Zen raised Syndax Pharmaceuticals to a "sell" rating in a research note on Tuesday, May 6th. Guggenheim reaffirmed a "buy" rating and set a $32.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 6th. B. Riley upgraded Syndax Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, August 6th. Finally, The Goldman Sachs Group assumed coverage on shares of Syndax Pharmaceuticals in a report on Thursday, July 10th. They set a "buy" rating and a $18.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Syndax Pharmaceuticals presently has a consensus rating of "Buy" and a consensus price target of $38.00.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtus ETF Advisers LLC raised its holdings in shares of Syndax Pharmaceuticals by 18.6% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock valued at $70,000 after purchasing an additional 827 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Syndax Pharmaceuticals by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,748 shares of the company's stock valued at $706,000 after purchasing an additional 1,811 shares in the last quarter. Quarry LP bought a new position in shares of Syndax Pharmaceuticals during the 1st quarter valued at $25,000. Teacher Retirement System of Texas raised its holdings in shares of Syndax Pharmaceuticals by 11.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 23,132 shares of the company's stock valued at $217,000 after purchasing an additional 2,458 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Syndax Pharmaceuticals by 5.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,149 shares of the company's stock valued at $413,000 after purchasing an additional 2,479 shares in the last quarter.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).