Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) Sees Significant Decline in Short Interest

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) was the recipient of a large decrease in short interest in December. As of December 31st, there was short interest totalling 1,100,000 shares, a decrease of 29.9% from the December 15th total of 1,570,000 shares. Approximately 6.3% of the shares of the company are sold short. Based on an average daily trading volume, of 9,060,000 shares, the days-to-cover ratio is currently 0.1 days.

Syros Pharmaceuticals Stock Down 13.9 %

Shares of SYRS traded down $0.03 during midday trading on Thursday, hitting $0.21. The company’s stock had a trading volume of 2,276,410 shares, compared to its average volume of 2,694,389. Syros Pharmaceuticals has a one year low of $0.18 and a one year high of $7.96. The stock has a market capitalization of $5.50 million, a price-to-earnings ratio of -0.07 and a beta of 1.31. The company’s fifty day simple moving average is $0.44 and its two-hundred day simple moving average is $2.21.

Syros Pharmaceuticals (NASDAQ:SYRS) last issued its earnings results on Thursday, October 31st. The company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.08. During the same period last year, the company posted ($1.35) EPS. On average, research analysts predict that Syros Pharmaceuticals will post -2.94 earnings per share for the current year.

Insider Buying and Selling at Syros Pharmaceuticals

In other news, Director Nancy A. Simonian sold 134,713 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $0.27, for a total value of $36,372.51. Following the completion of the sale, the director now owns 41,070 shares of the company’s stock, valued at approximately $11,088.90. The trade was a 76.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 12.26% of the company’s stock.

Institutional Trading of Syros Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new position in shares of Syros Pharmaceuticals during the third quarter worth $34,000. Acadian Asset Management LLC increased its holdings in Syros Pharmaceuticals by 101.5% in the 2nd quarter. Acadian Asset Management LLC now owns 34,578 shares of the company’s stock worth $178,000 after purchasing an additional 17,416 shares in the last quarter. Finally, Exome Asset Management LLC raised its position in Syros Pharmaceuticals by 87.6% in the third quarter. Exome Asset Management LLC now owns 298,575 shares of the company’s stock valued at $642,000 after purchasing an additional 139,400 shares during the last quarter. Institutional investors and hedge funds own 91.47% of the company’s stock.

Analyst Ratings Changes

SYRS has been the topic of a number of analyst reports. Brookline Capital Management restated a “hold” rating on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. StockNews.com started coverage on Syros Pharmaceuticals in a report on Thursday. They issued a “sell” rating for the company. JMP Securities reiterated a “market perform” rating on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. TD Cowen restated a “hold” rating on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $1.00 price objective (down previously from $6.00) on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.33.

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.