StockNews.com Downgrades Syros Pharmaceuticals (NASDAQ:SYRS) to Sell

Syros Pharmaceuticals (NASDAQ:SYRS) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Monday.

A number of other equities research analysts have also issued reports on the company. JMP Securities decreased their price target on Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating for the company in a research note on Tuesday, August 13th. HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of Syros Pharmaceuticals in a research report on Friday. Finally, Piper Sandler restated an “overweight” rating and issued a $5.00 price target (down from $13.00) on shares of Syros Pharmaceuticals in a report on Tuesday, August 13th.

Syros Pharmaceuticals Trading Up 7.3 %

SYRS stock traded up $0.17 during mid-day trading on Monday, reaching $2.43. 398,776 shares of the stock traded hands, compared to its average volume of 243,605. Syros Pharmaceuticals has a one year low of $1.43 and a one year high of $8.17. The stock has a market capitalization of $65.15 million, a PE ratio of -0.80 and a beta of 1.59. The company has a debt-to-equity ratio of 1.97, a quick ratio of 3.46 and a current ratio of 3.46. The business has a 50-day moving average price of $1.94 and a two-hundred day moving average price of $3.94.

Syros Pharmaceuticals (NASDAQ:SYRS) last issued its quarterly 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 quarter in the prior year, the company earned ($1.35) EPS. Equities research analysts expect that Syros Pharmaceuticals will post -3.06 EPS for the current year.

Insider Buying and Selling at Syros Pharmaceuticals

In other Syros Pharmaceuticals news, CFO Jason Haas purchased 35,363 shares of Syros Pharmaceuticals stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average price of $1.55 per share, for a total transaction of $54,812.65. Following the acquisition, the chief financial officer now owns 59,915 shares in the company, valued at $92,868.25. This trade represents a 100.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Syros Pharmaceuticals news, CFO Jason Haas acquired 35,363 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average cost of $1.55 per share, with a total value of $54,812.65. Following the completion of the acquisition, the chief financial officer now directly owns 59,915 shares in the company, valued at $92,868.25. This represents a 100.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Conley Chee bought 50,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were bought at an average price 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 of the company’s stock, valued at $109,481.04. This trade represents a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 130,707 shares of company stock valued at $206,491 in the last ninety days. Corporate insiders own 12.26% of the company’s stock.

Institutional Investors Weigh In On Syros Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Opaleye Management Inc. lifted 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. Kennedy Capital Management LLC purchased a new position in Syros Pharmaceuticals in the 1st quarter worth $2,166,000. Vanguard Group Inc. lifted its position in Syros Pharmaceuticals by 21.3% during the 1st quarter. Vanguard Group Inc. now owns 928,046 shares of the company’s stock worth $4,965,000 after acquiring an additional 163,234 shares during the period. Certuity LLC purchased a new stake in Syros Pharmaceuticals during the 2nd quarter valued at about $109,000. Finally, Acadian Asset Management LLC grew its stake in Syros Pharmaceuticals by 101.5% during the 2nd quarter. Acadian Asset Management LLC now owns 34,578 shares of the company’s stock valued at $178,000 after purchasing an additional 17,416 shares during the last quarter. 91.47% of the stock is currently owned by institutional investors and hedge funds.

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.