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

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

Insider Buying and Selling at Syros Pharmaceuticals

In other Syros Pharmaceuticals news, CFO Jason Haas bought 45,344 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were acquired at an average cost of $1.68 per share, with a total value of $76,177.92. Following the acquisition, the chief financial officer now directly owns 124,552 shares of the company’s stock, valued at $209,247.36. The trade was a 57.25 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Conley Chee acquired 50,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was purchased 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 directly 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 have purchased 130,707 shares of company stock valued at $206,491 over the last 90 days. 12.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Syros Pharmaceuticals

Several institutional investors have recently modified their holdings of the business. Virtu Financial LLC bought a new position in shares of Syros Pharmaceuticals in the 1st quarter valued at about $64,000. GSA Capital Partners LLP bought a new position in shares of Syros Pharmaceuticals during the third quarter worth approximately $34,000. Acadian Asset Management LLC bought a new stake in shares of Syros Pharmaceuticals during the 1st quarter valued at $91,000. Certuity LLC acquired a new stake in shares of Syros Pharmaceuticals during the 2nd quarter worth approximately $109,000. Finally, Kennedy Capital Management LLC acquired a new position in shares of Syros Pharmaceuticals during the 1st quarter worth $2,166,000. Institutional investors own 91.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on SYRS. Brookline Capital Management reiterated a “hold” rating on shares of Syros Pharmaceuticals in a research report on Wednesday. Piper Sandler restated an “overweight” rating and issued a $5.00 price target (down previously from $13.00) on shares of Syros Pharmaceuticals in a report on Tuesday, August 13th. TD Cowen reiterated a “hold” rating on shares of Syros Pharmaceuticals in a report on Wednesday. HC Wainwright reaffirmed a “neutral” rating and set a $1.00 price target (down previously from $6.00) on shares of Syros Pharmaceuticals in a research report on Wednesday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Syros Pharmaceuticals in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Syros Pharmaceuticals has an average rating of “Hold” and a consensus target price of $3.33.

Syros Pharmaceuticals Stock Performance

Shares of SYRS traded down $0.02 on Friday, reaching $0.26. 6,316,690 shares of the stock traded hands, compared to its average volume of 569,671. The stock’s 50-day moving average price is $1.99 and its 200-day moving average price is $3.75. The firm has a market cap of $6.96 million, a price-to-earnings ratio of -0.09 and a beta of 1.59. Syros Pharmaceuticals has a 12 month low of $0.25 and a 12 month high of $8.17. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.25 and a quick ratio of 2.25.

Syros Pharmaceuticals (NASDAQ:SYRS) last announced its earnings results on Thursday, October 31st. The company reported ($0.68) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.08. During the same period last year, the business earned ($1.35) earnings per share. Equities analysts forecast that Syros Pharmaceuticals will post -2.99 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.