Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) Short Interest Update

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) was the recipient of a large increase in short interest in 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 days-to-cover ratio is currently 2.8 days. Approximately 6.4% of the company’s shares are sold short.

Syros Pharmaceuticals Stock Down 5.7 %

Shares of SYRS stock traded down $0.02 on Friday, hitting $0.26. The stock had a trading volume of 6,316,690 shares, compared to its average volume of 569,671. Syros Pharmaceuticals has a one year low of $0.25 and a one year high of $8.17. The business has a 50 day moving average price of $1.99 and a 200 day moving average price of $3.75. The company has a market cap of $6.96 million, a PE ratio of -0.09 and a beta of 1.59. The company has a quick ratio of 2.25, a current 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) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.08. During the same quarter in the prior year, the business posted ($1.35) earnings per share. Research analysts anticipate that Syros Pharmaceuticals will post -2.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Transactions at Syros Pharmaceuticals

In other news, CEO Conley Chee purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average cost of $1.51 per share, with a total value of $75,500.00. Following the purchase, the chief executive officer now owns 72,504 shares in the company, valued at approximately $109,481.04. This trade represents a 222.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jason Haas acquired 45,344 shares of Syros Pharmaceuticals stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average cost of $1.68 per share, for a total transaction of $76,177.92. Following the completion of the transaction, the chief financial officer now directly owns 124,552 shares in the company, valued at $209,247.36. This trade represents a 57.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 130,707 shares of company stock worth $206,491. 12.26% of the stock is currently owned by company insiders.

Institutional Trading of Syros Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new position in shares of Syros Pharmaceuticals in the 3rd quarter worth $34,000. Certuity LLC bought a new position in Syros Pharmaceuticals in the second quarter worth about $109,000. Acadian Asset Management LLC lifted its position in shares of Syros Pharmaceuticals by 101.5% during the second 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 last quarter. Opaleye Management Inc. lifted 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 valued at $4,213,000 after buying an additional 428,175 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Syros Pharmaceuticals in the 1st quarter valued at about $64,000. Institutional investors own 91.47% of the company’s stock.

Syros Pharmaceuticals Company Profile

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.