Syros Pharmaceuticals Inc (NASDAQ:SYRS) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totalling 2,717,900 shares, a decline of 19.7% from the June 30th total of 3,386,500 shares. Approximately 12.6% of the company’s stock are sold short. Based on an average daily volume of 181,400 shares, the days-to-cover ratio is currently 15.0 days.
In other news, major shareholder Venture Fund Vii L.P. Arch sold 63,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $7.77, for a total value of $489,510.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 14.80% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Syros Pharmaceuticals by 23.1% in the fourth quarter. BlackRock Inc. now owns 1,986,130 shares of the company’s stock valued at $11,063,000 after purchasing an additional 372,462 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Syros Pharmaceuticals by 62.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 244,080 shares of the company’s stock valued at $1,360,000 after purchasing an additional 93,728 shares during the period. Nikko Asset Management Americas Inc. raised its position in shares of Syros Pharmaceuticals by 33,768.1% in the first quarter. Nikko Asset Management Americas Inc. now owns 684,475 shares of the company’s stock valued at $6,256,000 after purchasing an additional 682,454 shares during the period. Geode Capital Management LLC raised its position in shares of Syros Pharmaceuticals by 10.3% in the fourth quarter. Geode Capital Management LLC now owns 249,668 shares of the company’s stock valued at $1,390,000 after purchasing an additional 23,234 shares during the period. Finally, BNP Paribas Arbitrage SA bought a new position in shares of Syros Pharmaceuticals in the first quarter valued at about $48,000. 65.27% of the stock is currently owned by institutional investors.
NASDAQ SYRS traded up $1.16 on Wednesday, hitting $9.93. 222,770 shares of the stock were exchanged, compared to its average volume of 178,898. The company has a debt-to-equity ratio of 0.15, a current ratio of 8.11 and a quick ratio of 8.11. The business has a fifty day simple moving average of $8.14. Syros Pharmaceuticals has a 52 week low of $5.17 and a 52 week high of $13.16. The stock has a market capitalization of $372.18 million, a P/E ratio of -5.20 and a beta of 1.94.
Syros Pharmaceuticals (NASDAQ:SYRS) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by ($0.06). Syros Pharmaceuticals had a negative return on equity of 79.79% and a negative net margin of 3,137.55%. The firm had revenue of $0.46 million for the quarter, compared to the consensus estimate of $0.42 million. On average, equities analysts expect that Syros Pharmaceuticals will post -1.94 EPS for the current fiscal year.
Syros Pharmaceuticals Company Profile
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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