Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) Sees Significant Decline in Short Interest

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 1,100,000 shares, a decrease of 29.9% from the December 15th total of 1,570,000 shares. Based on an average trading volume of 9,060,000 shares, the days-to-cover ratio is currently 0.1 days. Approximately 6.3% of the company’s shares are sold short.

Wall Street Analyst Weigh In

SYRS has been the subject of several recent analyst reports. TD Cowen reiterated a “hold” rating on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. Brookline Capital Management reissued a “hold” rating on shares of Syros Pharmaceuticals in a research note on Wednesday, November 13th. StockNews.com initiated coverage on Syros Pharmaceuticals in a research note on Thursday. They set a “sell” rating for the company. HC Wainwright reissued a “neutral” rating and issued a $1.00 price target (down from $6.00) on shares of Syros Pharmaceuticals in a research note on Wednesday, November 13th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $3.33.

Insider Buying and Selling at Syros Pharmaceuticals

In other Syros Pharmaceuticals news, Director Nancy A. Simonian sold 134,713 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $0.27, for a total value of $36,372.51. Following the sale, the director now owns 41,070 shares in the company, valued at approximately $11,088.90. The trade was a 76.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 12.26% of the company’s stock.

Hedge Funds Weigh In On Syros Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC grew its holdings in shares of Syros Pharmaceuticals by 101.5% in the second quarter. Acadian Asset Management LLC now owns 34,578 shares of the company’s stock valued at $178,000 after acquiring an additional 17,416 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Syros Pharmaceuticals in the third quarter worth $34,000. Finally, Exome Asset Management LLC grew its stake in Syros Pharmaceuticals by 87.6% in the 3rd quarter. Exome Asset Management LLC now owns 298,575 shares of the company’s stock valued at $642,000 after purchasing an additional 139,400 shares during the period. 91.47% of the stock is currently owned by institutional investors.

Syros Pharmaceuticals Trading Down 13.9 %

Syros Pharmaceuticals stock traded down $0.03 during midday trading on Thursday, reaching $0.21. The stock had a trading volume of 2,276,410 shares, compared to its average volume of 2,694,389. The company has a fifty day moving average price of $0.44 and a two-hundred day moving average price of $2.21. Syros Pharmaceuticals has a 12 month low of $0.18 and a 12 month high of $7.96. The company has a market capitalization of $5.50 million, a P/E ratio of -0.07 and a beta of 1.31.

Syros Pharmaceuticals (NASDAQ:SYRS) last issued its earnings results on Thursday, October 31st. The company reported ($0.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.08. During the same period last year, the business 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.

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.