Syros Pharmaceuticals Inc (NASDAQ:SYRS) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

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Sumitomo Mitsui Trust Holdings Inc. lowered its position in Syros Pharmaceuticals Inc (NASDAQ:SYRS) by 4.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,724,774 shares of the company’s stock after selling 200,432 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 10.34% of Syros Pharmaceuticals worth $50,366,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Alliancebernstein L.P. raised its position in shares of Syros Pharmaceuticals by 29.8% in the first quarter. Alliancebernstein L.P. now owns 39,600 shares of the company’s stock worth $235,000 after acquiring an additional 9,100 shares during the period. Portolan Capital Management LLC raised its position in shares of Syros Pharmaceuticals by 56.8% in the first quarter. Portolan Capital Management LLC now owns 512,570 shares of the company’s stock worth $3,040,000 after acquiring an additional 185,723 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Syros Pharmaceuticals by 166.3% in the first quarter. BNP Paribas Arbitrage SA now owns 10,685 shares of the company’s stock worth $63,000 after acquiring an additional 6,672 shares during the period. Geode Capital Management LLC raised its position in shares of Syros Pharmaceuticals by 4.8% in the first quarter. Geode Capital Management LLC now owns 498,187 shares of the company’s stock worth $2,954,000 after acquiring an additional 22,641 shares during the period. Finally, Citigroup Inc. raised its position in shares of Syros Pharmaceuticals by 23.4% in the first quarter. Citigroup Inc. now owns 12,627 shares of the company’s stock worth $75,000 after acquiring an additional 2,391 shares during the period. Institutional investors and hedge funds own 98.22% of the company’s stock.

In other news, Director Srinivas Akkaraju sold 54,972 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $11.15, for a total value of $612,937.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard A. Young sold 5,990 shares of the stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $11.85, for a total transaction of $70,981.50. Following the completion of the sale, the director now directly owns 353,171 shares of the company’s stock, valued at approximately $4,185,076.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,648 shares of company stock valued at $1,378,193. 14.80% of the stock is owned by insiders.

SYRS stock opened at $9.49 on Friday. The company has a market cap of $433.60 million, a price-to-earnings ratio of -5.30 and a beta of 1.63. The company has a current ratio of 6.35, a quick ratio of 6.35 and a debt-to-equity ratio of 0.58. Syros Pharmaceuticals Inc has a 12 month low of $4.26 and a 12 month high of $12.75. The firm has a 50-day moving average of $10.87 and a two-hundred day moving average of $8.46.

Syros Pharmaceuticals (NASDAQ:SYRS) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.39) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.06. The company had revenue of $2.38 million during the quarter, compared to the consensus estimate of $1.72 million. Syros Pharmaceuticals had a negative net margin of 1,950.42% and a negative return on equity of 84.15%. As a group, equities analysts forecast that Syros Pharmaceuticals Inc will post -1.62 earnings per share for the current year.

SYRS has been the subject of several research analyst reports. Oppenheimer initiated coverage on shares of Syros Pharmaceuticals in a research report on Monday, June 1st. They set a “buy” rating and a $11.00 price target for the company. BidaskClub downgraded shares of Syros Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday. Piper Sandler upped their price target on shares of Syros Pharmaceuticals from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Zacks Investment Research upgraded shares of Syros Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $10.00 price target for the company in a research report on Saturday, May 9th. Finally, ValuEngine downgraded shares of Syros Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $12.29.

About Syros Pharmaceuticals

Syros Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development of treatment for cancer and monogenic diseases, and building a pipeline of gene control medicines. Its lead product candidates include SY-1425, a selective retinoic acid receptor alpha agonist, which is in a Phase II clinical trial for genomically defined subsets of patients with acute myeloid leukemia (AML) and myelodysplastic syndrome; SY-1365, a selective cyclin-dependent kinase 7 (CDK7) inhibitor, which is in a Phase I clinical trial that is used for treating patients with solid tumors and blood cancers, including ovarian and breast cancer; and SY-5609, a CDK7 inhibitor, which is in preclinical studies to treat oncology patients.

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Institutional Ownership by Quarter for Syros Pharmaceuticals (NASDAQ:SYRS)

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