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

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) was the recipient of a significant growth in short interest in 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. Based on an average trading volume of 7,810,000 shares, the short-interest ratio is presently 0.6 days. Approximately 27.7% of the shares of the stock are short sold.

Syros Pharmaceuticals Trading Up 5.1 %

SYRS traded up $0.01 during trading on Wednesday, reaching $0.26. 2,997,581 shares of the company traded hands, compared to its average volume of 2,369,993. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 1.97. Syros Pharmaceuticals has a 12-month low of $0.18 and a 12-month high of $8.17. The firm has a fifty day simple moving average of $1.79 and a 200 day simple moving average of $3.49.

Syros Pharmaceuticals (NASDAQ:SYRS) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.08. During the same period in the previous year, the business posted ($1.35) EPS. As a group, equities analysts forecast that Syros Pharmaceuticals will post -2.94 EPS for the current fiscal year.

Insider Buying and Selling at Syros Pharmaceuticals

In other Syros Pharmaceuticals news, CEO Conley Chee purchased 50,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was bought at an average cost of $1.51 per share, for a total transaction of $75,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 72,504 shares of the company’s stock, valued at $109,481.04. The trade was a 222.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jason Haas acquired 45,344 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average price of $1.68 per share, with a total value of $76,177.92. Following the completion of the acquisition, the chief financial officer now owns 124,552 shares of the company’s stock, valued at $209,247.36. This represents a 57.25 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 130,707 shares of company stock worth $206,491 over the last three months. Company insiders own 12.26% of the company’s stock.

Hedge Funds Weigh In On Syros Pharmaceuticals

Large investors have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new stake in Syros Pharmaceuticals in the 3rd quarter valued at about $34,000. Certuity LLC purchased a new position in shares of Syros Pharmaceuticals in the 2nd quarter valued at approximately $109,000. Acadian Asset Management LLC boosted its stake in shares of Syros Pharmaceuticals by 101.5% in 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 in the last quarter. Opaleye Management Inc. boosted its stake in shares of Syros Pharmaceuticals by 119.1% in the first quarter. Opaleye Management Inc. now owns 787,545 shares of the company’s stock valued at $4,213,000 after buying an additional 428,175 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Syros Pharmaceuticals in the first quarter valued at approximately $64,000. Institutional investors and hedge funds own 91.47% of the company’s stock.

Analyst Upgrades and Downgrades

SYRS has been the topic of a number of research reports. HC Wainwright restated a “neutral” rating and set a $1.00 price objective (down previously from $6.00) on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. TD Cowen restated a “hold” rating on shares of Syros Pharmaceuticals in a report on Wednesday, November 13th. StockNews.com initiated coverage on shares of Syros Pharmaceuticals in a research note on Thursday, November 21st. They issued a “sell” rating for the company. Piper Sandler reiterated an “overweight” rating and set a $5.00 target price (down from $13.00) on shares of Syros Pharmaceuticals in a research report on Tuesday, August 13th. Finally, Brookline Capital Management restated a “hold” rating on shares of Syros Pharmaceuticals in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.