Syros Pharmaceuticals (NASDAQ:SYRS) Stock Price Passes Below 50 Day Moving Average of $5.94

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS)’s stock price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $5.94 and traded as low as $5.28. Syros Pharmaceuticals shares last traded at $5.44, with a volume of 199,560 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SYRS shares. StockNews.com cut shares of Syros Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, April 17th. Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 target price on shares of Syros Pharmaceuticals in a report on Wednesday, April 3rd. Finally, HC Wainwright reissued a “buy” rating and set a $15.00 price objective on shares of Syros Pharmaceuticals in a report on Monday, April 1st.

Syros Pharmaceuticals Stock Performance

The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 2.07. The business’s fifty day simple moving average is $5.94 and its two-hundred day simple moving average is $5.34.

Syros Pharmaceuticals (NASDAQ:SYRS) last released its quarterly earnings data on Wednesday, March 27th. The company reported ($1.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.23) by $0.04. Syros Pharmaceuticals had a negative net margin of 1,656.34% and a negative return on equity of 227.91%. The company had revenue of $0.39 million for the quarter, compared to analysts’ expectations of $2.40 million. As a group, analysts predict that Syros Pharmaceuticals, Inc. will post -3.78 earnings per share for the current year.

Hedge Funds Weigh In On Syros Pharmaceuticals

Hedge funds have recently modified their holdings of the business. CHI Advisors LLC grew its position in shares of Syros Pharmaceuticals by 69.3% during the third quarter. CHI Advisors LLC now owns 1,299,359 shares of the company’s stock worth $5,119,000 after acquiring an additional 531,914 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Syros Pharmaceuticals by 142.2% during the third quarter. Assenagon Asset Management S.A. now owns 25,130 shares of the company’s stock worth $99,000 after acquiring an additional 14,754 shares during the last quarter. Avidity Partners Management LP grew its position in shares of Syros Pharmaceuticals by 8.0% during the third quarter. Avidity Partners Management LP now owns 1,581,142 shares of the company’s stock worth $6,246,000 after acquiring an additional 117,108 shares during the last quarter. Flagship Pioneering Inc. grew its position in shares of Syros Pharmaceuticals by 30.2% during the fourth quarter. Flagship Pioneering Inc. now owns 1,293,848 shares of the company’s stock worth $10,079,000 after acquiring an additional 300,000 shares during the last quarter. Finally, Opaleye Management Inc. purchased a new position in shares of Syros Pharmaceuticals during the fourth quarter worth approximately $2,799,000. 91.47% of the stock is currently owned by hedge funds and other institutional investors.

Syros Pharmaceuticals Company Profile

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.