Short Interest in Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) Increases By 345.9%

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 4,190,000 shares, an increase of 345.9% from the February 28th total of 939,600 shares. Based on an average daily volume of 22,260,000 shares, the days-to-cover ratio is presently 0.2 days. Approximately 17.7% of the company’s shares are short sold.

Institutional Investors Weigh In On Syros Pharmaceuticals

An institutional investor recently bought a new position in Syros Pharmaceuticals stock. Two Sigma Securities LLC bought a new position in Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 107,742 shares of the company’s stock, valued at approximately $25,000. Two Sigma Securities LLC owned 0.40% of Syros Pharmaceuticals at the end of the most recent reporting period. Institutional investors own 91.47% of the company’s stock.

Syros Pharmaceuticals Stock Performance

SYRS stock opened at $0.03 on Friday. Syros Pharmaceuticals has a fifty-two week low of $0.02 and a fifty-two week high of $6.93. The company has a market capitalization of $727,147.20, a price-to-earnings ratio of -0.01 and a beta of 1.31. The business’s 50 day moving average price is $0.14 and its two-hundred day moving average price is $0.80.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Syros Pharmaceuticals in a report on Saturday. They issued a “sell” rating for the company. One 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $3.33.

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.