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

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) saw a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 4,770,000 shares, a growth of 281.6% from the October 31st total of 1,250,000 shares. Currently, 27.7% of the company’s shares are sold short. Based on an average trading volume of 7,810,000 shares, the days-to-cover ratio is currently 0.6 days.

Insiders Place Their Bets

In other news, CFO Jason Haas purchased 35,363 shares of the stock in a transaction dated Tuesday, September 10th. The shares were bought at an average cost of $1.55 per share, for a total transaction of $54,812.65. Following the transaction, the chief financial officer now owns 59,915 shares in the company, valued at $92,868.25. This trade represents a 144.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Conley Chee purchased 50,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average price of $1.51 per share, for a total transaction of $75,500.00. Following the completion of the transaction, the chief executive officer now owns 72,504 shares in the company, valued at $109,481.04. This trade represents a 222.18 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 130,707 shares of company stock worth $206,491 over the last three months. 12.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Syros Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of SYRS. Opaleye Management Inc. lifted its stake in Syros Pharmaceuticals by 119.1% in the 1st 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 bought a new stake in shares of Syros Pharmaceuticals during the 1st quarter valued at about $2,166,000. Vanguard Group Inc. lifted its position in Syros Pharmaceuticals by 21.3% during 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. Certuity LLC purchased a new position in Syros Pharmaceuticals in the second quarter worth about $109,000. Finally, Acadian Asset Management LLC grew its position in 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 period. 91.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on SYRS. Piper Sandler reiterated an “overweight” rating and set a $5.00 price objective (down from $13.00) on shares of Syros Pharmaceuticals in a report on Tuesday, August 13th. Brookline Capital Management reiterated a “hold” rating on shares of Syros Pharmaceuticals in a research note on Wednesday, November 13th. StockNews.com initiated coverage on Syros Pharmaceuticals in a research report on Thursday, November 21st. They set a “sell” rating on the stock. JMP Securities reissued a “market perform” rating on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Syros Pharmaceuticals in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $3.33.

Syros Pharmaceuticals Stock Up 5.1 %

Shares of NASDAQ SYRS traded up $0.01 during trading hours on Wednesday, hitting $0.26. 2,997,581 shares of the stock were exchanged, compared to its average volume of 2,369,993. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.25 and a current ratio of 2.25. The company’s fifty day simple moving average is $1.79 and its two-hundred day simple moving average is $3.49. Syros Pharmaceuticals has a 1-year low of $0.18 and a 1-year high of $8.17.

Syros Pharmaceuticals (NASDAQ:SYRS) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.08. During the same quarter in the prior year, the company posted ($1.35) EPS. Analysts forecast that Syros Pharmaceuticals will post -2.94 EPS for the current fiscal year.

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.