Syros Pharmaceuticals Inc (NASDAQ:SYRS) was the recipient of a large decrease in short interest during the month of November. As of November 29th, there was short interest totalling 1,850,000 shares, a decrease of 15.9% from the November 14th total of 2,200,000 shares. Based on an average daily volume of 262,900 shares, the days-to-cover ratio is currently 7.0 days. Approximately 6.0% of the shares of the stock are sold short.
Several equities analysts recently issued reports on SYRS shares. BidaskClub upgraded Syros Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. HC Wainwright restated a “hold” rating and set a $10.00 price target on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. JMP Securities reduced their price target on Syros Pharmaceuticals from $18.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Friday, October 18th. Piper Jaffray Companies reduced their price target on Syros Pharmaceuticals from $24.00 to $18.00 in a research report on Thursday, October 17th. Finally, ValuEngine upgraded Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $13.46.
SYRS traded down $0.07 on Thursday, hitting $4.56. 7,670 shares of the company were exchanged, compared to its average volume of 233,665. The firm has a fifty day simple moving average of $5.02 and a two-hundred day simple moving average of $7.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.92 and a current ratio of 4.92. Syros Pharmaceuticals has a 12 month low of $4.45 and a 12 month high of $11.93. The stock has a market capitalization of $196.50 million, a PE ratio of -2.40 and a beta of 1.46.
In other news, insider Jeremy P. Springhorn acquired 9,879 shares of Syros Pharmaceuticals stock in a transaction dated Monday, November 11th. The shares were purchased at an average cost of $4.99 per share, for a total transaction of $49,296.21. Following the transaction, the insider now owns 24,879 shares of the company’s stock, valued at $124,146.21. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 14.80% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of SYRS. Bank of Montreal Can lifted its holdings in Syros Pharmaceuticals by 11,319.2% in the 2nd quarter. Bank of Montreal Can now owns 2,969 shares of the company’s stock worth $27,000 after buying an additional 2,943 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Syros Pharmaceuticals by 863.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,688 shares of the company’s stock worth $28,000 after buying an additional 2,409 shares during the period. A.R.T. Advisors LLC purchased a new stake in Syros Pharmaceuticals in the 2nd quarter worth approximately $119,000. Susquehanna International Group LLP purchased a new stake in Syros Pharmaceuticals in the 2nd quarter worth approximately $133,000. Finally, Metropolitan Life Insurance Co NY purchased a new stake in Syros Pharmaceuticals in the 3rd quarter worth approximately $138,000.
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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