Whilst it may not be a huge deal, we thought it was good to see that the Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) CEO & Director, Briggs Morrison, recently bought US$100k worth of stock, for US$8.00 per share. While we're hesitant to get too excited about a purchase of that size, we do note it increased their holding by a solid 40%.
The Last 12 Months Of Insider Transactions At Syndax Pharmaceuticals
In fact, the recent purchase by CEO & Director Briggs Morrison was not their only acquisition of Syndax Pharmaceuticals shares this year. Earlier in the year, they paid US$7.56 per share in a US$152k purchase. We do like to see buying, but this purchase was made at well below the current price of US$9.90. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive.
Syndax Pharmaceuticals insiders may have bought shares in the last year, but they didn't sell any. The chart below shows insider transactions (by individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
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Insider Ownership of Syndax Pharmaceuticals
Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. We usually like to see fairly high levels of insider ownership. Our data isn't picking up on much insider ownership at Syndax Pharmaceuticals, though insiders do hold about US$476k worth of shares. We do note, however, it is possible insiders have an indirect interest through a private company or other corporate structure. This level of insider ownership is notably low, and not very encouraging.
So What Do The Syndax Pharmaceuticals Insider Transactions Indicate?
It's certainly positive to see the recent insider purchase. We also take confidence from the longer term picture of insider transactions. But on the other hand, the company made a loss last year, which makes us a little cautious. While the overall levels of insider ownership are below what we'd like to see, the history of transactions imply that Syndax Pharmaceuticals insiders are reasonably well aligned, and optimistic for the future. Therefore, you should should definitely take a look at this FREE report showing analyst forecasts for Syndax Pharmaceuticals.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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