Insider Selling: Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) Director Sells $178,365.44 in Stock

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) Director Richard A. Young sold 34,837 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $5.12, for a total transaction of $178,365.44. Following the completion of the transaction, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $40,960. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Syros Pharmaceuticals Price Performance

Shares of SYRS opened at $5.00 on Friday. Syros Pharmaceuticals, Inc. has a twelve month low of $2.09 and a twelve month high of $8.17. The firm’s fifty day simple moving average is $5.29 and its 200-day simple moving average is $6.08. The company has a debt-to-equity ratio of 1.97, a quick ratio of 3.01 and a current ratio of 3.01.

Syros Pharmaceuticals (NASDAQ:SYRS) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.79) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.10. Syros Pharmaceuticals had a negative net margin of 1,656.34% and a negative return on equity of 395.36%. During the same period last year, the business posted ($0.85) EPS. As a group, equities research analysts expect that Syros Pharmaceuticals, Inc. will post -3.19 EPS for the current year.

Institutional Investors Weigh In On Syros Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of SYRS. Bain Capital Life Sciences Investors LLC lifted its position in Syros Pharmaceuticals by 29.4% in the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 2,749,808 shares of the company’s stock valued at $21,421,000 after acquiring an additional 625,114 shares during the last quarter. Avidity Partners Management LP lifted its position in Syros Pharmaceuticals by 5.8% in the fourth quarter. Avidity Partners Management LP now owns 1,673,538 shares of the company’s stock valued at $13,037,000 after acquiring an additional 92,396 shares during the last quarter. Flagship Pioneering Inc. lifted its position in Syros Pharmaceuticals by 30.2% in the fourth quarter. Flagship Pioneering Inc. now owns 1,293,848 shares of the company’s stock valued at $10,079,000 after acquiring an additional 300,000 shares during the last quarter. Opaleye Management Inc. purchased a new stake in Syros Pharmaceuticals in the fourth quarter valued at $2,799,000. Finally, Assenagon Asset Management S.A. lifted its position in Syros Pharmaceuticals by 576.5% in the first quarter. Assenagon Asset Management S.A. now owns 169,999 shares of the company’s stock valued at $909,000 after acquiring an additional 144,869 shares during the last quarter. 91.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SYRS. HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of Syros Pharmaceuticals in a research report on Wednesday, June 26th. StockNews.com raised shares of Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. Finally, Piper Sandler restated an “overweight” rating and issued a $13.00 price objective on shares of Syros Pharmaceuticals in a report on Wednesday, April 3rd.

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.