Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) CEO Sells $69,990.86 in Stock

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) CEO Michael A. Metzger sold 7,534 shares of Syndax Pharmaceuticals stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $9.29, for a total value of $69,990.86. Following the sale, the chief executive officer directly owned 298,661 shares of the company's stock, valued at approximately $2,774,560.69. This trade represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ SNDX traded up $0.58 during mid-day trading on Tuesday, reaching $10.31. 1,892,314 shares of the company were exchanged, compared to its average volume of 1,878,889. Syndax Pharmaceuticals, Inc. has a 52 week low of $8.58 and a 52 week high of $25.07. The company has a quick ratio of 5.75, a current ratio of 5.80 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $887.18 million, a PE ratio of -2.67 and a beta of 0.70. The company's 50 day moving average price is $9.86 and its 200 day moving average price is $12.13.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.06. Syndax Pharmaceuticals had a negative net margin of 757.53% and a negative return on equity of 101.60%. The company had revenue of $20.04 million for the quarter, compared to analysts' expectations of $15.88 million. During the same quarter in the previous year, the company earned ($0.85) earnings per share. Syndax Pharmaceuticals's quarterly revenue was up 1900.0% on a year-over-year basis. Sell-side analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP purchased a new position in Syndax Pharmaceuticals in the 1st quarter worth approximately $25,000. Virtus ETF Advisers LLC raised its holdings in Syndax Pharmaceuticals by 18.6% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock worth $70,000 after acquiring an additional 827 shares during the last quarter. Magnetar Financial LLC purchased a new position in Syndax Pharmaceuticals in the 1st quarter worth approximately $132,000. Optimize Financial Inc purchased a new position in Syndax Pharmaceuticals in the 4th quarter worth approximately $152,000. Finally, Lazard Asset Management LLC purchased a new position in Syndax Pharmaceuticals in the 4th quarter worth approximately $153,000.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Scotiabank upped their target price on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 6th. The Goldman Sachs Group assumed coverage on Syndax Pharmaceuticals in a report on Thursday, July 10th. They set a "buy" rating and a $18.00 target price on the stock. Wall Street Zen upgraded Syndax Pharmaceuticals to a "sell" rating in a report on Tuesday, May 6th. Guggenheim reiterated a "buy" rating and set a $32.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th. Finally, UBS Group dropped their target price on Syndax Pharmaceuticals from $37.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Syndax Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $34.10.

About Syndax Pharmaceuticals

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).