Short Interest in Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) Drops By 29.9%

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) was the recipient of a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 1,100,000 shares, a decline of 29.9% from the December 15th total of 1,570,000 shares. Based on an average daily trading volume, of 9,060,000 shares, the short-interest ratio is currently 0.1 days. Currently, 6.3% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SYRS shares. Brookline Capital Management reaffirmed a “hold” rating on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. TD Cowen restated a “hold” rating on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. HC Wainwright reiterated a “neutral” rating and issued a $1.00 price objective (down previously from $6.00) on shares of Syros Pharmaceuticals in a report on Wednesday, November 13th. JMP Securities reissued a “market perform” rating on shares of Syros Pharmaceuticals in a research note on Wednesday, November 13th. Finally, StockNews.com started coverage on Syros Pharmaceuticals in a research report on Wednesday, January 8th. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Syros Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $3.33.

Insider Activity at Syros Pharmaceuticals

In other Syros Pharmaceuticals news, Director Nancy A. Simonian sold 134,713 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $0.27, for a total transaction of $36,372.51. Following the completion of the transaction, the director now owns 41,070 shares of the company’s stock, valued at $11,088.90. This trade represents a 76.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 12.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Syros Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC grew its stake 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 worth $178,000 after purchasing an additional 17,416 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Syros Pharmaceuticals during the 3rd quarter worth about $34,000. Finally, Exome Asset Management LLC boosted its position in shares of Syros Pharmaceuticals by 87.6% during the 3rd quarter. Exome Asset Management LLC now owns 298,575 shares of the company’s stock worth $642,000 after acquiring an additional 139,400 shares in the last quarter. 91.47% of the stock is currently owned by institutional investors and hedge funds.

Syros Pharmaceuticals Stock Up 0.2 %

NASDAQ:SYRS traded up $0.00 during midday trading on Wednesday, reaching $0.24. The company had a trading volume of 1,737,963 shares, compared to its average volume of 2,743,838. The stock’s fifty day simple moving average is $0.49 and its 200-day simple moving average is $2.23. 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 has a 12-month low of $0.18 and a 12-month high of $7.96. The firm has a market capitalization of $6.39 million, a price-to-earnings ratio of -0.08 and a beta of 1.31.

Syros Pharmaceuticals (NASDAQ:SYRS) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.08. During the same period last year, the company earned ($1.35) EPS. On average, sell-side analysts anticipate that Syros Pharmaceuticals will post -2.94 earnings per share for the current fiscal 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.