Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) Sees Significant Growth in Short Interest

by · The Cerbat Gem

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS – Get Free Report) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 1,250,000 shares, an increase of 31.2% from the October 15th total of 952,600 shares. Approximately 6.4% of the shares of the company are sold short. Based on an average trading volume of 448,600 shares, the short-interest ratio is presently 2.8 days.

Syros Pharmaceuticals Stock Down 5.7 %

SYRS stock traded down $0.02 during trading on Friday, reaching $0.26. The stock had a trading volume of 6,316,690 shares, compared to its average volume of 569,671. 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 1-year low of $0.25 and a 1-year high of $8.17. The firm has a fifty day moving average price of $1.99 and a 200 day moving average price of $3.75. The company has a market capitalization of $6.96 million, a P/E ratio of -0.09 and a beta of 1.59.

Syros Pharmaceuticals (NASDAQ:SYRS – Get Free Report) last released its earnings results on Thursday, October 31st. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.08. During the same quarter in the prior year, the company posted ($1.35) earnings per share. On average, equities analysts anticipate that Syros Pharmaceuticals will post -2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. TD Cowen restated a “hold” rating on shares of Syros Pharmaceuticals in a research report on Wednesday. StockNews.com downgraded Syros Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. 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. JMP Securities restated a “market perform” rating on shares of Syros Pharmaceuticals in a research report on Wednesday. Finally, HC Wainwright reiterated a “neutral” rating and issued a $1.00 price objective (down from $6.00) on shares of Syros Pharmaceuticals in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $3.33.

Check Out Our Latest Stock Report on Syros Pharmaceuticals

Insider Buying and Selling at Syros Pharmaceuticals

In other Syros Pharmaceuticals news, CFO Jason Haas bought 45,344 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was acquired at an average price of $1.68 per share, for a total transaction of $76,177.92. Following the completion of the purchase, the chief financial officer now owns 124,552 shares of the company’s stock, valued at approximately $209,247.36. This represents a 57.25 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Conley Chee acquired 50,000 shares of Syros Pharmaceuticals stock in a transaction on Tuesday, September 10th. The shares were bought at an average cost of $1.51 per share, with a total value of $75,500.00. Following the completion of the purchase, the chief executive officer now owns 72,504 shares in the company, valued at $109,481.04. The trade was a 222.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 130,707 shares of company stock worth $206,491 over the last 90 days. Corporate insiders own 12.26% of the company’s stock.

Institutional Trading of Syros Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in SYRS. GSA Capital Partners LLP bought a new stake in Syros Pharmaceuticals in the third quarter worth about $34,000. Virtu Financial LLC acquired a new stake in shares of Syros Pharmaceuticals during the 1st quarter valued at $64,000. Acadian Asset Management LLC bought a new stake in shares of Syros Pharmaceuticals during the 1st quarter worth $91,000. Certuity LLC acquired a new stake in shares of Syros Pharmaceuticals during the second quarter worth $109,000. Finally, Kennedy Capital Management LLC purchased a new stake in shares of Syros Pharmaceuticals during the first quarter valued at $2,166,000. 91.47% of the stock is currently owned by institutional investors.

About Syros Pharmaceuticals

(Get Free Report)

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.

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