Stock Traders Buy Large Volume of Put Options on Syros Pharmaceuticals (NASDAQ:SYRS)

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) was the recipient of unusually large options trading activity on Tuesday. Stock traders acquired 5,070 put options on the stock. This is an increase of approximately 4,775% compared to the average volume of 104 put options.

Syros Pharmaceuticals Trading Down 60.7 %

SYRS stock traded down $3.04 during trading on Tuesday, reaching $1.97. The company had a trading volume of 4,238,067 shares, compared to its average volume of 194,742. The company has a market cap of $52.82 million, a P/E ratio of -0.40 and a beta of 1.53. The company has a debt-to-equity ratio of 1.97, a current ratio of 3.46 and a quick ratio of 3.46. The business has a 50 day moving average of $5.59 and a 200 day moving average of $5.86. Syros Pharmaceuticals has a 52 week low of $1.80 and a 52 week high of $8.17.

Syros Pharmaceuticals (NASDAQ:SYRS) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($0.79) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.10. Syros Pharmaceuticals had a negative net margin of 1,656.34% and a negative return on equity of 850.20%. During the same quarter in the prior year, the company earned ($0.85) earnings per share. As a group, sell-side analysts forecast that Syros Pharmaceuticals will post -3.08 earnings per share for the current fiscal year.

Insider Transactions at Syros Pharmaceuticals

In other news, Director Richard A. Young sold 34,837 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $5.12, for a total value of $178,365.44. Following the transaction, the director now owns 8,000 shares of the company’s stock, valued at $40,960. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 12.26% of the company’s stock.

Institutional Investors Weigh In On Syros Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in Syros Pharmaceuticals in the first quarter worth approximately $64,000. Acadian Asset Management LLC purchased a new position in shares of Syros Pharmaceuticals during the 1st quarter valued at $91,000. Certuity LLC bought a new stake in Syros Pharmaceuticals during the 2nd quarter valued at approximately $109,000. Assenagon Asset Management S.A. boosted its position in shares of Syros Pharmaceuticals by 576.5% during the first quarter. Assenagon Asset Management S.A. now owns 169,999 shares of the company’s stock worth $909,000 after acquiring an additional 144,869 shares during the last quarter. Finally, Kennedy Capital Management LLC bought a new stake in shares of Syros Pharmaceuticals in the first quarter worth about $2,166,000. Institutional investors own 91.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SYRS shares. StockNews.com raised Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. JMP Securities dropped their target price on shares of Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating for the company in a report on Tuesday. Piper Sandler reiterated an “overweight” rating and set a $5.00 target price (down from $13.00) on shares of Syros Pharmaceuticals in a report on Tuesday. Finally, HC Wainwright dropped their target price on shares of Syros Pharmaceuticals from $15.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday.

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.