Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) Sees Large Increase in Short Interest

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 4,770,000 shares, an increase of 281.6% from the October 31st total of 1,250,000 shares. Currently, 27.7% of the shares of the company are sold short. Based on an average daily volume of 7,810,000 shares, the short-interest ratio is presently 0.6 days.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SYRS shares. TD Cowen reaffirmed a “hold” rating on shares of Syros Pharmaceuticals in a research note on Wednesday, November 13th. StockNews.com began coverage on shares of Syros Pharmaceuticals in a research report on Thursday, November 21st. They set a “sell” rating on the stock. HC Wainwright reiterated a “neutral” rating and issued a $1.00 price objective (down previously from $6.00) on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. JMP Securities restated a “market perform” rating on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $5.00 price target (down previously from $13.00) on shares of Syros Pharmaceuticals in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Syros Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $3.33.

Syros Pharmaceuticals Trading Up 6.6 %

SYRS stock traded up $0.02 during mid-day trading on Thursday, hitting $0.27. 4,938,782 shares of the company were exchanged, compared to its average volume of 2,378,885. The business has a fifty day simple moving average of $1.75 and a 200-day simple moving average of $3.47. The firm has a market capitalization of $7.18 million, a P/E ratio of -0.09 and a beta of 1.59. Syros Pharmaceuticals has a 12-month low of $0.18 and a 12-month high of $8.17. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 1.97.

Syros Pharmaceuticals (NASDAQ:SYRS) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.08. During the same period last year, the firm earned ($1.35) EPS. On average, equities research analysts predict that Syros Pharmaceuticals will post -2.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Syros Pharmaceuticals news, Director Nancy A. Simonian sold 134,713 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $0.27, for a total transaction of $36,372.51. Following the sale, the director now directly owns 41,070 shares of the company’s stock, valued at approximately $11,088.90. This trade represents a 76.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Conley Chee acquired 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was bought at an average cost of $1.51 per share, with a total value of $75,500.00. Following the acquisition, the chief executive officer now owns 72,504 shares in the company, valued at approximately $109,481.04. This trade represents a 222.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 130,707 shares of company stock valued at $206,491 over the last 90 days. Insiders own 12.26% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP purchased a new position in Syros Pharmaceuticals in the third quarter valued at $34,000. Certuity LLC purchased a new position in shares of Syros Pharmaceuticals in the 2nd quarter valued at about $109,000. Acadian Asset Management LLC grew its position in shares of Syros Pharmaceuticals by 101.5% during the second quarter. Acadian Asset Management LLC now owns 34,578 shares of the company’s stock worth $178,000 after buying an additional 17,416 shares in the last quarter. Opaleye Management Inc. increased its stake in shares of Syros Pharmaceuticals by 119.1% during 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 during the period. Finally, Virtu Financial LLC acquired a new stake in Syros Pharmaceuticals in the first quarter valued at approximately $64,000. 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.