Syndax Pharmaceuticals (NASDAQ:SNDX) Stock: Insider Dennis Podlesak Sells 8,000 Shares

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Director Dennis Podlesak sold 8,000 shares of the stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $14.21, for a total transaction 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 Securities & Exchange Commission, which is accessible through this link.

Syndax Pharmaceuticals Price Performance

NASDAQ SNDX opened at $13.65 on Friday. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $12.80 and a fifty-two week high of $25.59. The stock’s 50-day moving average is $17.18 and its two-hundred day moving average is $20.25. The firm has a market cap of $1.21 billion, a P/E ratio of -5.44 and a beta of 0.42. The company has a debt-to-equity ratio of 38.95, a current ratio of 6.77 and a quick ratio of 6.44.

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

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several large investors have recently made changes to their positions in SNDX. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Syndax Pharmaceuticals in the third quarter worth $86,000. China Universal Asset Management Co. Ltd. increased its position in Syndax Pharmaceuticals by 15.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 16,293 shares of the company’s stock worth $297,000 after acquiring an additional 2,191 shares during the period. Sterling Capital Management LLC raised its stake in Syndax Pharmaceuticals by 846.6% during the 3rd quarter. Sterling Capital Management LLC now owns 2,963 shares of the company’s stock valued at $56,000 after purchasing an additional 2,650 shares during the last quarter. Inspire Investing LLC raised its stake in Syndax Pharmaceuticals by 10.2% during the 3rd quarter. Inspire Investing LLC now owns 34,122 shares of the company’s stock valued at $641,000 after purchasing an additional 3,157 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in Syndax Pharmaceuticals by 10.5% during the 2nd quarter. Tidal Investments LLC now owns 72,212 shares of the company’s stock valued at $1,579,000 after purchasing an additional 6,886 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. decreased their target price on Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. HC Wainwright restated a “buy” rating and issued a $38.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, October 13th. UBS Group restated a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Thursday, October 1st. Bank of America reaffirmed a “buy” rating on shares of Syndax Pharmaceuticals in a report on Wednesday, August 5th. Finally, Weiss Ratings lowered shares of Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, October 19th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.80.

Syndax Pharmaceuticals Company Profile

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.