Short Interest in Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) Declines By 53.2%

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) was the recipient of a large decrease in short interest in November. As of November 30th, there was short interest totalling 2,230,000 shares, a decrease of 53.2% from the November 15th total of 4,770,000 shares. Based on an average daily volume of 8,130,000 shares, the days-to-cover ratio is currently 0.3 days. Currently, 12.8% of the company’s shares are sold short.

Analyst Ratings Changes

Several brokerages have issued reports on SYRS. HC Wainwright reaffirmed 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 reaffirmed a “market perform” rating on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. Brookline Capital Management reaffirmed a “hold” rating on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. TD Cowen reaffirmed a “hold” rating on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. Finally, StockNews.com began coverage on shares of Syros Pharmaceuticals in a research report on Saturday, December 7th. They issued a “sell” rating for the company. 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $3.33.

Syros Pharmaceuticals Stock Down 12.1 %

Shares of Syros Pharmaceuticals stock traded down $0.03 on Friday, hitting $0.21. 3,549,222 shares of the company’s stock traded hands, compared to its average volume of 2,370,537. The stock has a market cap of $5.56 million, a P/E ratio of -0.07 and a beta of 1.33. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 1.97. The firm’s 50-day moving average is $1.34 and its 200 day moving average is $3.06. Syros Pharmaceuticals has a 52-week low of $0.18 and a 52-week high of $8.17.

Syros Pharmaceuticals (NASDAQ:SYRS) last released its earnings results on Thursday, October 31st. The company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.08. During the same period in the previous year, the firm earned ($1.35) EPS. Equities analysts anticipate that Syros Pharmaceuticals will post -2.94 earnings per share for the current year.

Insider Buying and Selling

In other Syros Pharmaceuticals news, Director Nancy A. Simonian sold 134,713 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $0.27, for a total value of $36,372.51. Following the completion of the sale, the director now owns 41,070 shares of the company’s stock, valued at $11,088.90. This trade represents a 76.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 12.26% of the company’s stock.

Hedge Funds Weigh In On Syros Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. Exome Asset Management LLC lifted its stake in Syros Pharmaceuticals by 87.6% during the third quarter. Exome Asset Management LLC now owns 298,575 shares of the company’s stock worth $642,000 after purchasing an additional 139,400 shares during the last quarter. GSA Capital Partners LLP bought a new position in Syros Pharmaceuticals during the third quarter worth $34,000. Certuity LLC bought a new position in Syros Pharmaceuticals during the second quarter worth $109,000. Acadian Asset Management LLC lifted its stake in 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 purchasing an additional 17,416 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Syros Pharmaceuticals by 21.3% in the first quarter. Vanguard Group Inc. now owns 928,046 shares of the company’s stock worth $4,965,000 after buying an additional 163,234 shares during the period. 91.47% of the stock is currently owned by institutional investors.

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.