Syndax Pharmaceuticals (NASDAQ:SNDX) Director Sells $304,128.00 in Stock

Key Points

• Director Dennis Podlesak sold 19,200 shares of Syndax Pharmaceuticals at an average price of $15.84, representing a 9.10% decrease in his holdings.
• Syndax Pharmaceuticals reported earnings of ($0.83) per share, beating analyst estimates, with revenue of $37.96 million, up 984.5% from the previous year.
• Several analysts have revised their ratings and target prices, with a consensus rating of "Moderate Buy" and a target price of $38.00.

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) Director Dennis Podlesak sold 19,200 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $15.84, for a total value of $304,128.00. Following the transaction, the director directly owned 191,763 shares of the company's stock, valued at $3,037,525.92. The trade was a 9.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Friday, August 15th, Dennis Podlesak sold 19,200 shares of Syndax Pharmaceuticals stock. The stock was sold at an average price of $15.54, for a total value of $298,368.00.

Syndax Pharmaceuticals Price Performance

Syndax Pharmaceuticals stock traded up $0.2130 during mid-day trading on Friday, hitting $16.0530. 363,541 shares of the company were exchanged, compared to its average volume of 2,236,506. The company has a debt-to-equity ratio of 2.06, a current ratio of 4.71 and a quick ratio of 4.55. The business's 50 day simple moving average is $10.73 and its two-hundred day simple moving average is $11.93. The company has a market capitalization of $1.38 billion, a P/E ratio of -4.13 and a beta of 0.74. Syndax Pharmaceuticals, Inc. has a 12-month low of $8.58 and a 12-month high of $22.50.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $37.96 million for the quarter, compared to analysts' expectations of $26.64 million. During the same quarter last year, the firm earned ($0.80) earnings per share. The business's revenue was up 984.5% on a year-over-year basis. Analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tang Capital Management LLC acquired a new position in shares of Syndax Pharmaceuticals during the fourth quarter worth about $1,322,000. Polar Asset Management Partners Inc. acquired a new position in shares of Syndax Pharmaceuticals during the fourth quarter worth about $1,124,000. XTX Topco Ltd acquired a new position in shares of Syndax Pharmaceuticals during the first quarter worth about $783,000. Aigen Investment Management LP acquired a new position in shares of Syndax Pharmaceuticals during the first quarter worth about $297,000. Finally, Northern Trust Corp lifted its stake in shares of Syndax Pharmaceuticals by 7.5% during the fourth quarter. Northern Trust Corp now owns 792,750 shares of the company's stock worth $10,480,000 after purchasing an additional 55,144 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. BTIG Research lifted their target price on Syndax Pharmaceuticals from $43.00 to $56.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Citigroup lifted 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. Guggenheim reiterated a "buy" rating and issued a $32.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th. The Goldman Sachs Group assumed coverage on Syndax Pharmaceuticals in a report on Thursday, July 10th. They issued a "buy" rating and a $18.00 target price on the stock. Finally, B. Riley upgraded Syndax Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $38.00.

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).