Syros Pharmaceuticals (NASDAQ:SYRS) Downgraded by StockNews.com to “Sell”

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

Several other equities research analysts have also recently weighed in 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. Piper Sandler reissued an “overweight” rating and set a $5.00 target price (down previously from $13.00) on shares of Syros Pharmaceuticals in a research report on Tuesday, August 13th. Finally, HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of Syros Pharmaceuticals in a research report on Friday, November 1st.

Syros Pharmaceuticals Stock Up 4.1 %

NASDAQ:SYRS opened at $2.53 on Monday. Syros Pharmaceuticals has a one year low of $1.43 and a one year high of $8.17. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.25 and a quick ratio of 2.25. The company has a market cap of $67.83 million, a PE ratio of -0.83 and a beta of 1.59. The firm’s 50 day simple moving average is $1.96 and its 200 day simple moving average is $3.92.

Syros Pharmaceuticals (NASDAQ:SYRS) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.08. During the same quarter in the prior year, the firm posted ($1.35) earnings per share. On average, research analysts anticipate that Syros Pharmaceuticals will post -3.06 earnings per share for the current year.

Insider Activity at Syros Pharmaceuticals

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SYRS. Virtu Financial LLC bought a new stake in shares of Syros Pharmaceuticals during the first quarter valued at approximately $64,000. GSA Capital Partners LLP acquired a new stake in Syros Pharmaceuticals in the 3rd quarter valued at $34,000. Acadian Asset Management LLC acquired a new stake in Syros Pharmaceuticals in the 1st quarter valued at $91,000. Certuity LLC bought a new stake in Syros Pharmaceuticals during the 2nd quarter valued at $109,000. Finally, Kennedy Capital Management LLC acquired a new position in Syros Pharmaceuticals during the first quarter worth $2,166,000. 91.47% of the stock is 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.