Octagon Capital Advisors LP Invests $11.95 Million in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Octagon Capital Advisors LP acquired a new position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 904,000 shares of the company's stock, valued at approximately $11,951,000. Syndax Pharmaceuticals makes up about 2.0% of Octagon Capital Advisors LP's investment portfolio, making the stock its 21st biggest position. Octagon Capital Advisors LP owned about 1.06% of Syndax Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd bought a new position in shares of Syndax Pharmaceuticals during the 4th quarter worth about $26,000. Virtus ETF Advisers LLC raised its holdings in shares of 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. Cape Investment Advisory Inc. raised its holdings in shares of Syndax Pharmaceuticals by 157.1% in the 4th quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company's stock worth $85,000 after acquiring an additional 3,927 shares during the last quarter. KBC Group NV raised its holdings in shares of Syndax Pharmaceuticals by 104.8% in the 4th quarter. KBC Group NV now owns 6,954 shares of the company's stock worth $92,000 after acquiring an additional 3,559 shares during the last quarter. Finally, Optimize Financial Inc acquired a new stake in shares of Syndax Pharmaceuticals in the 4th quarter worth about $152,000.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX traded up $0.10 on Friday, hitting $9.05. The stock had a trading volume of 2,954,265 shares, compared to its average volume of 1,725,031. The stock has a market cap of $778.73 million, a P/E ratio of -2.49 and a beta of 0.82. Syndax Pharmaceuticals, Inc. has a 1 year low of $8.58 and a 1 year high of $25.07. The firm's fifty day simple moving average is $12.10 and its two-hundred day simple moving average is $14.07.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.04) by $0.06. 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 business earned ($0.85) EPS. The company's revenue for the quarter was up 1900.0% on a year-over-year basis. Equities research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. HC Wainwright restated a "buy" rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, March 4th. Guggenheim restated a "buy" rating and issued a $32.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th. Scotiabank upped their target price on shares of Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 6th. Citigroup lowered their target price on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Finally, StockNews.com upgraded shares of Syndax Pharmaceuticals to a "sell" rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.91.

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).