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

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 957,500 shares, a decrease of 22.8% from the August 15th total of 1,240,000 shares. Based on an average daily volume of 241,000 shares, the short-interest ratio is presently 4.0 days. Currently, 4.8% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. JMP Securities cut their price target on Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating for the company in a report on Tuesday, August 13th. Piper Sandler restated an “overweight” rating and issued a $5.00 target price (down previously from $13.00) on shares of Syros Pharmaceuticals in a research note on Tuesday, August 13th. Finally, HC Wainwright lowered their price target on shares of Syros Pharmaceuticals from $15.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th.

Syros Pharmaceuticals Price Performance

Syros Pharmaceuticals stock opened at $1.98 on Tuesday. The stock has a market cap of $53.08 million, a price-to-earnings ratio of -0.40 and a beta of 1.58. The company has a quick ratio of 3.46, a current ratio of 3.46 and a debt-to-equity ratio of 1.97. The business has a 50-day simple moving average of $3.73 and a 200 day simple moving average of $4.88. Syros Pharmaceuticals has a 52 week low of $1.43 and a 52 week high of $8.17.

Syros Pharmaceuticals (NASDAQ:SYRS) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.09. Syros Pharmaceuticals had a negative return on equity of 850.20% and a negative net margin of 1,656.34%. On average, research analysts forecast that Syros Pharmaceuticals will post -2.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Syros Pharmaceuticals

In other news, CEO Conley Chee bought 50,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were 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 approximately $109,481.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Syros Pharmaceuticals news, CFO Jason Haas purchased 35,363 shares of the company’s stock in a transaction that occurred on 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 purchase, the chief financial officer now owns 59,915 shares of the company’s stock, valued at approximately $92,868.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Conley Chee acquired 50,000 shares of Syros Pharmaceuticals stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average price of $1.51 per share, with a total value 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 approximately $109,481.04. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 130,707 shares of company stock valued at $206,491. Company insiders own 12.26% of the company’s stock.

Institutional Trading of Syros Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bain Capital Life Sciences Investors LLC increased its stake in Syros Pharmaceuticals by 29.4% in the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 2,749,808 shares of the company’s stock valued at $21,421,000 after acquiring an additional 625,114 shares during the last quarter. Avidity Partners Management LP raised its holdings in shares of Syros Pharmaceuticals by 5.8% during the 4th quarter. Avidity Partners Management LP now owns 1,673,538 shares of the company’s stock valued at $13,037,000 after buying an additional 92,396 shares in the last quarter. Flagship Pioneering Inc. raised its holdings in shares of Syros Pharmaceuticals by 30.2% during the 4th quarter. Flagship Pioneering Inc. now owns 1,293,848 shares of the company’s stock valued at $10,079,000 after buying an additional 300,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in Syros Pharmaceuticals by 21.3% in the first quarter. Vanguard Group Inc. now owns 928,046 shares of the company’s stock worth $4,965,000 after buying an additional 163,234 shares in the last quarter. Finally, Opaleye Management Inc. boosted its stake in Syros Pharmaceuticals by 119.1% in the first quarter. Opaleye Management Inc. now owns 787,545 shares of the company’s stock worth $4,213,000 after buying an additional 428,175 shares in the last quarter. Hedge funds and other institutional investors own 91.47% of the company’s stock.

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.