Octagon Capital Advisors LP Buys Shares of 904,000 Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Octagon Capital Advisors LP purchased a new position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 904,000 shares of the company’s stock, valued at approximately $11,951,000. Syndax Pharmaceuticals makes up approximately 2.0% of Octagon Capital Advisors LP’s portfolio, making the stock its 21st biggest holding. Octagon Capital Advisors LP owned 1.06% of Syndax Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Barclays PLC increased its stake in Syndax Pharmaceuticals by 143.4% during the 3rd quarter. Barclays PLC now owns 187,629 shares of the company’s stock worth $3,612,000 after purchasing an additional 110,535 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Syndax Pharmaceuticals by 343.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,064,456 shares of the company’s stock valued at $27,292,000 after buying an additional 1,598,428 shares during the period. Inspire Investing LLC increased its position in shares of Syndax Pharmaceuticals by 44.5% during the fourth quarter. Inspire Investing LLC now owns 30,792 shares of the company’s stock worth $407,000 after acquiring an additional 9,484 shares in the last quarter. KBC Group NV raised its holdings in shares of Syndax Pharmaceuticals by 104.8% during the fourth 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 period. Finally, R Squared Ltd acquired a new stake in shares of Syndax Pharmaceuticals during the fourth quarter worth $26,000.

Syndax Pharmaceuticals Price Performance

Shares of SNDX opened at $10.99 on Tuesday. The company’s 50-day moving average is $12.41 and its 200-day moving average is $14.30. The firm has a market capitalization of $945.66 million, a PE ratio of -3.03 and a beta of 0.82. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.04) by $0.06. The company had revenue of $20.04 million during the quarter, compared to the consensus estimate of $15.88 million. During the same period in the prior year, the company earned ($0.85) earnings per share. The firm’s revenue was up 1900.0% compared to the same quarter last year. Analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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