StockNews.com Initiates Coverage on Syros Pharmaceuticals (NASDAQ:SYRS)

Research analysts at StockNews.com initiated coverage on shares of Syros Pharmaceuticals (NASDAQ:SYRS) in a research note issued to investors on Friday. The brokerage set a “sell” rating on the stock.

Syros Pharmaceuticals Stock Down 10.4 %

Shares of SYRS stock opened at $0.11 on Friday. The company’s 50 day moving average is $0.16 and its 200 day moving average is $0.87. The firm has a market cap of $2.82 million, a price-to-earnings ratio of -0.03 and a beta of 1.31. Syros Pharmaceuticals has a 52-week low of $0.07 and a 52-week high of $6.93.

Institutional Investors Weigh In On Syros Pharmaceuticals

A number of hedge funds have recently made changes to their positions in SYRS. GSA Capital Partners LLP purchased a new position in Syros Pharmaceuticals in the third quarter valued at about $34,000. Two Sigma Securities LLC purchased a new stake in shares of Syros Pharmaceuticals during the fourth quarter valued at about $25,000. Finally, Exome Asset Management LLC boosted its holdings in shares of Syros Pharmaceuticals by 87.6% in the 3rd quarter. Exome Asset Management LLC now owns 298,575 shares of the company’s stock valued at $642,000 after buying an additional 139,400 shares in the last quarter. 91.47% of the stock is currently owned by hedge funds and other institutional investors.

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.