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

StockNews.com lowered shares of Syros Pharmaceuticals (NASDAQ:SYRS) from a hold rating to a sell rating in a research note issued to investors on Monday.

Several other brokerages have also recently weighed in on SYRS. HC Wainwright reduced their price target on Syros Pharmaceuticals from $15.00 to $6.00 and set a buy rating for the company in a research report on Tuesday, August 13th. Piper Sandler reissued an overweight rating and set a $5.00 price target (down from $13.00) on shares of Syros Pharmaceuticals in a report on Tuesday, August 13th. Finally, JMP Securities cut their price objective 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, August 13th.

Syros Pharmaceuticals Stock Performance

Shares of NASDAQ SYRS opened at $1.95 on Monday. The company has a 50 day simple moving average of $2.25 and a two-hundred day simple moving average of $4.32. The stock has a market cap of $52.28 million, a price-to-earnings ratio of -0.39 and a beta of 1.59. The company has a current ratio of 3.46, a quick ratio of 3.46 and a debt-to-equity ratio of 1.97. Syros Pharmaceuticals has a 12 month low of $1.43 and a 12 month high of $8.17.

Syros Pharmaceuticals (NASDAQ:SYRS) last posted its earnings results on Wednesday, July 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.09. As a group, analysts predict that Syros Pharmaceuticals will post -2.88 earnings per share for the current year.

Insider Transactions at Syros Pharmaceuticals

In related news, CEO Conley Chee purchased 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was 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 in the company, valued at $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 available through this hyperlink. In other news, CFO Jason Haas purchased 35,363 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average cost of $1.55 per share, for a total transaction of $54,812.65. Following the completion of the transaction, the chief financial officer now owns 59,915 shares of the company’s stock, valued at $92,868.25. This trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Conley Chee acquired 50,000 shares of Syros Pharmaceuticals stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average cost of $1.51 per share, with a total value of $75,500.00. Following the completion of the purchase, the chief executive officer now owns 72,504 shares in the company, valued at $109,481.04. The trade was a 200.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 130,707 shares of company stock valued at $206,491 in the last three months. 12.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Syros Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYRS. Avidity Partners Management LP lifted its stake in shares of Syros Pharmaceuticals by 5.8% in the fourth quarter. Avidity Partners Management LP now owns 1,673,538 shares of the company’s stock worth $13,037,000 after buying an additional 92,396 shares in the last quarter. Flagship Pioneering Inc. boosted its holdings in shares of Syros Pharmaceuticals by 30.2% during the 4th quarter. Flagship Pioneering Inc. now owns 1,293,848 shares of the company’s stock worth $10,079,000 after purchasing an additional 300,000 shares during the last quarter. Opaleye Management Inc. acquired a new stake in shares of Syros Pharmaceuticals in the fourth quarter valued at approximately $2,799,000. Vanguard Group Inc. lifted its position in Syros Pharmaceuticals by 21.3% during 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 in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Syros Pharmaceuticals during the first quarter worth approximately $91,000. Institutional investors and hedge funds own 91.47% of the company’s stock.

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.