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

Octagon Capital Advisors LP bought a new position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 904,000 shares of the company's stock, valued at approximately $11,951,000. Syndax Pharmaceuticals comprises 2.0% of Octagon Capital Advisors LP's holdings, making the stock its 21st biggest position. Octagon Capital Advisors LP owned approximately 1.06% of Syndax Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Syndax Pharmaceuticals by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,748 shares of the company's stock worth $706,000 after acquiring an additional 1,811 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Syndax Pharmaceuticals during the fourth quarter valued at about $153,000. Lion Point Capital LP boosted its position in Syndax Pharmaceuticals by 19.0% during the fourth quarter. Lion Point Capital LP now owns 55,000 shares of the company's stock worth $727,000 after purchasing an additional 8,800 shares during the period. Granahan Investment Management LLC increased its stake in shares of Syndax Pharmaceuticals by 36.2% in the fourth quarter. Granahan Investment Management LLC now owns 905,322 shares of the company's stock worth $11,968,000 after purchasing an additional 240,557 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Syndax Pharmaceuticals by 35.7% in the fourth quarter. Deutsche Bank AG now owns 89,904 shares of the company's stock worth $1,189,000 after purchasing an additional 23,634 shares in the last quarter.

Syndax Pharmaceuticals Stock Performance

Syndax Pharmaceuticals stock traded up $0.10 during mid-day trading on Friday, hitting $9.05. 2,954,265 shares of the company traded hands, compared to its average volume of 1,721,961. Syndax Pharmaceuticals, Inc. has a one year low of $8.58 and a one year high of $25.07. The stock has a market cap of $778.73 million, a price-to-earnings ratio of -2.49 and a beta of 0.82. The stock has a fifty day moving average price of $12.10 and a 200-day moving average price of $14.10.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.04) by $0.06. The company had revenue of $20.04 million for the quarter, compared to the consensus estimate of $15.88 million. The business's revenue was up 1900.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.85) earnings per share. Sell-side analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. StockNews.com raised shares of Syndax Pharmaceuticals to a "sell" rating in a report on Tuesday, May 6th. Scotiabank lifted their price target on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a "sector perform" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. increased their price objective on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Guggenheim reaffirmed a "buy" rating and set a $32.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th. Finally, Citigroup lowered their price target 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $35.91.

Syndax Pharmaceuticals 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).