Short Interest in Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) Grows By 31.2%

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 1,250,000 shares, an increase of 31.2% from the October 15th total of 952,600 shares. Based on an average daily volume of 448,600 shares, the short-interest ratio is currently 2.8 days. Approximately 6.4% of the company’s stock are sold short.

Insider Buying and Selling at Syros Pharmaceuticals

In other news, CEO Conley Chee acquired 50,000 shares of Syros Pharmaceuticals stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average cost of $1.51 per share, for a total transaction of $75,500.00. Following the completion of the purchase, the chief executive officer now owns 72,504 shares of the company’s stock, valued at $109,481.04. This represents a 222.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jason Haas purchased 45,344 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were acquired at an average price of $1.68 per share, with a total value of $76,177.92. Following the completion of the acquisition, the chief financial officer now owns 124,552 shares of the company’s stock, valued at approximately $209,247.36. The trade was a 57.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 130,707 shares of company stock worth $206,491 over the last 90 days. 12.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Syros Pharmaceuticals

Several institutional investors have recently modified their holdings of SYRS. Vanguard Group Inc. raised its position in shares of Syros Pharmaceuticals by 21.3% in the 1st quarter. Vanguard Group Inc. now owns 928,046 shares of the company’s stock valued at $4,965,000 after acquiring an additional 163,234 shares during the period. Opaleye Management Inc. boosted its position in shares of Syros Pharmaceuticals by 119.1% during the first quarter. Opaleye Management Inc. now owns 787,545 shares of the company’s stock worth $4,213,000 after purchasing an additional 428,175 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in shares of Syros Pharmaceuticals in the 1st quarter valued at $2,166,000. Acadian Asset Management LLC grew its holdings in shares of Syros Pharmaceuticals by 101.5% in the 2nd quarter. Acadian Asset Management LLC now owns 34,578 shares of the company’s stock valued at $178,000 after buying an additional 17,416 shares during the period. Finally, Certuity LLC bought a new stake in shares of Syros Pharmaceuticals in the 2nd quarter valued at $109,000. 91.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. StockNews.com cut Syros Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, November 4th. JMP Securities restated a “market perform” rating on shares of Syros Pharmaceuticals in a research report on Wednesday. TD Cowen reiterated a “hold” rating on shares of Syros Pharmaceuticals in a research report on Wednesday. HC Wainwright restated a “neutral” rating and issued a $1.00 price objective (down previously from $6.00) on shares of Syros Pharmaceuticals in a research report on Wednesday. Finally, Brookline Capital Management reiterated a “hold” rating on shares of Syros Pharmaceuticals in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.33.

Syros Pharmaceuticals Trading Down 5.7 %

Shares of SYRS traded down $0.02 on Friday, reaching $0.26. 6,316,690 shares of the company’s stock were exchanged, compared to its average volume of 569,671. The business has a 50 day moving average price of $1.99 and a two-hundred day moving average price of $3.75. Syros Pharmaceuticals has a 12 month low of $0.25 and a 12 month high of $8.17. The stock has a market capitalization of $6.96 million, a P/E ratio of -0.09 and a beta of 1.59. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 1.97.

Syros Pharmaceuticals (NASDAQ:SYRS) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.08. During the same period in the prior year, the business earned ($1.35) earnings per share. Research analysts anticipate that Syros Pharmaceuticals will post -2.99 earnings per share for the current year.

About Syros Pharmaceuticals

Syros Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development of treatment for hematologic malignancies. The company's lead product candidates are Tamibarotene, a selective retinoic acid receptor alpha agonist, which is in Phase III clinical trial for genomically defined subset of patients with myelodysplastic syndrome and Phase II clinical trial for patients with acute myeloid leukemia; SY-2101, a novel oral form of arsenic trioxide for treating patients with acute promyelocytic leukemia; and SY-5609, a cyclin-dependent kinase 7 inhibitor, which is in a Phase I clinical trial in patients with select advanced solid tumors.