Insider Buying: Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) CFO Buys $54,812.65 in Stock

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) CFO Jason Haas purchased 35,363 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of $1.55 per share, with a total value of $54,812.65. Following the acquisition, the chief financial officer now directly owns 59,915 shares in the company, valued at $92,868.25. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Jason Haas also recently made the following trade(s):

• On Thursday, September 12th, Jason Haas bought 45,344 shares of Syros Pharmaceuticals stock. The stock was acquired at an average price of $1.68 per share, for a total transaction of $76,177.92.

Syros Pharmaceuticals Price Performance

Shares of NASDAQ SYRS opened at $1.95 on Friday. Syros Pharmaceuticals, Inc. has a fifty-two week low of $1.43 and a fifty-two week high of $8.17. The company has a current ratio of 3.46, a quick ratio of 3.46 and a debt-to-equity ratio of 1.97. The business’s 50 day moving average price is $3.80 and its 200-day moving average price is $4.94.

Syros Pharmaceuticals (NASDAQ:SYRS) last released its earnings results on Wednesday, July 31st. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates 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%. As a group, equities research analysts forecast that Syros Pharmaceuticals, Inc. will post -2.88 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SYRS. HC Wainwright reduced their price objective on Syros Pharmaceuticals from $15.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Piper Sandler reissued an “overweight” rating and set a $5.00 target price (down previously from $13.00) on shares of Syros Pharmaceuticals in a research report on Tuesday, August 13th. Finally, JMP Securities decreased their price target on Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating on the stock in a report on Tuesday, August 13th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in Syros Pharmaceuticals in the 1st quarter valued at about $64,000. Acadian Asset Management LLC bought a new stake in shares of Syros Pharmaceuticals during the first quarter valued at approximately $91,000. Certuity LLC purchased a new stake in shares of Syros Pharmaceuticals in the second quarter valued at approximately $109,000. Assenagon Asset Management S.A. boosted its holdings in shares of Syros Pharmaceuticals by 576.5% in the first quarter. Assenagon Asset Management S.A. now owns 169,999 shares of the company’s stock valued at $909,000 after purchasing an additional 144,869 shares during the period. Finally, Kennedy Capital Management LLC bought a new position in Syros Pharmaceuticals in the first quarter worth approximately $2,166,000. 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.