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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) CEO Michael Metzger sold 17,159 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $21.03, for a total value of $360,853.77. Following the transaction, the chief executive officer owned 491,690 shares of the company’s stock, valued at $10,340,240.70. This represents a 3.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Syndax Pharmaceuticals Trading Up 1.8%

SNDX stock opened at $21.71 on Thursday. The firm has a fifty day moving average price of $20.81 and a 200 day moving average price of $17.26. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $8.58 and a fifty-two week high of $22.73. The firm has a market cap of $1.89 billion, a PE ratio of -6.01 and a beta of 0.46. The company has a debt-to-equity ratio of 2.78, a quick ratio of 4.42 and a current ratio of 4.64.

Wall Street Analyst Weigh In

SNDX has been the subject of several analyst reports. Barclays raised their price objective on Syndax Pharmaceuticals from $22.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, November 24th. Wall Street Zen upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of Syndax Pharmaceuticals in a research note on Monday, October 27th. BTIG Research reiterated a “buy” rating and issued a $56.00 price target on shares of Syndax Pharmaceuticals in a report on Tuesday, December 9th. Finally, JPMorgan Chase & Co. reduced their target price on Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Syndax Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $37.20.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Phoenix Financial Ltd. purchased a new stake in shares of Syndax Pharmaceuticals during the 2nd quarter valued at about $701,000. Sector Gamma AS bought a new position in Syndax Pharmaceuticals during the 3rd quarter valued at $3,243,000. Franklin Resources Inc. increased its holdings in shares of Syndax Pharmaceuticals by 14.5% in the 2nd quarter. Franklin Resources Inc. now owns 2,359,677 shares of the company’s stock valued at $22,098,000 after acquiring an additional 298,272 shares during the last quarter. Aberdeen Group plc boosted its holdings in shares of 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 buying an additional 170,993 shares during the period. Finally, Schroder Investment Management Group boosted its position in Syndax Pharmaceuticals by 112.2% during the 2nd quarter. Schroder Investment Management Group now owns 122,163 shares of the company’s stock valued at $1,144,000 after purchasing an additional 64,598 shares during the period.

Syndax Pharmaceuticals Company Profile

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.