StockNews.com Upgrades Syros Pharmaceuticals (NASDAQ:SYRS) to Hold

Syros Pharmaceuticals (NASDAQ:SYRS) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

A number of other analysts have also commented on SYRS. JMP Securities dropped 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. Piper Sandler restated an “overweight” rating and set a $5.00 price target (down previously from $13.00) on shares of Syros Pharmaceuticals in a research report on Tuesday, August 13th. Finally, HC Wainwright lowered their price target on shares of Syros Pharmaceuticals from $15.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th.

Syros Pharmaceuticals Trading Down 4.0 %

NASDAQ SYRS opened at $1.91 on Tuesday. The business’s 50-day moving average price is $1.99 and its two-hundred day moving average price is $4.20. 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 firm has a market capitalization of $51.05 million, a PE ratio of -0.38 and a beta of 1.59. Syros Pharmaceuticals has a 12 month low of $1.43 and a 12 month high of $8.17.

Syros Pharmaceuticals (NASDAQ:SYRS) last released its earnings results on Wednesday, July 31st. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.09. On average, analysts expect that Syros Pharmaceuticals will post -2.88 EPS for the current year.

Insider Activity at Syros Pharmaceuticals

In related news, CFO Jason Haas purchased 35,363 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average price of $1.55 per share, for a total transaction of $54,812.65. Following the purchase, the chief financial officer now directly owns 59,915 shares of the company’s stock, valued at approximately $92,868.25. This represents a 100.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Conley Chee bought 50,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were bought at an average price of $1.51 per share, for a total transaction of $75,500.00. Following the purchase, the chief executive officer now owns 72,504 shares in the company, valued at approximately $109,481.04. The trade was a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jason Haas acquired 35,363 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average price of $1.55 per share, for a total transaction of $54,812.65. Following the completion of the transaction, the chief financial officer now directly owns 59,915 shares in the company, valued at approximately $92,868.25. This trade represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 130,707 shares of company stock worth $206,491 over the last 90 days. 12.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in Syros Pharmaceuticals during the first quarter valued at approximately $64,000. Acadian Asset Management LLC acquired a new stake in shares of Syros Pharmaceuticals in the first quarter worth $91,000. Certuity LLC purchased a new position in shares of Syros Pharmaceuticals during the second quarter worth $109,000. Vanguard Group Inc. lifted its holdings in shares of Syros Pharmaceuticals by 21.3% in the 1st quarter. Vanguard Group Inc. now owns 928,046 shares of the company’s stock valued at $4,965,000 after buying an additional 163,234 shares during the period. Finally, Kennedy Capital Management LLC purchased a new stake in Syros Pharmaceuticals in the 1st quarter worth approximately $2,166,000. 91.47% of the stock is currently owned by institutional investors.

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.