Syros Pharmaceuticals (NASDAQ:SYRS) Share Price Crosses Below 50 Day Moving Average of $4.20

Shares of Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $4.20 and traded as low as $1.51. Syros Pharmaceuticals shares last traded at $1.52, with a volume of 93,168 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. JMP Securities dropped their target price on shares of Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating on the stock in a report on Tuesday, August 13th. Piper Sandler restated an “overweight” rating and set a $5.00 price target (down from $13.00) on shares of Syros Pharmaceuticals in a report on Tuesday, August 13th. Finally, HC Wainwright dropped their price objective on Syros Pharmaceuticals from $15.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th.

Syros Pharmaceuticals Stock Performance

The stock has a fifty day moving average price of $4.13 and a 200-day moving average price of $5.13. The company has a current ratio of 3.46, a quick ratio of 3.46 and a debt-to-equity ratio of 1.97. The firm has a market capitalization of $40.49 million, a price-to-earnings ratio of -0.30 and a beta of 1.58.

Syros Pharmaceuticals (NASDAQ:SYRS) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.09. Syros Pharmaceuticals had a negative return on equity of 850.20% and a negative net margin of 1,656.34%. As a group, analysts anticipate that Syros Pharmaceuticals, Inc. will post -2.88 earnings per share for the current fiscal year.

Insider Activity

In other Syros Pharmaceuticals news, Director Richard A. Young sold 34,837 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $5.12, for a total value of $178,365.44. Following the transaction, the director now owns 8,000 shares of the company’s stock, valued at $40,960. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Certuity LLC acquired a new position in Syros Pharmaceuticals during the 2nd quarter valued at about $109,000. Acadian Asset Management LLC lifted its holdings in Syros Pharmaceuticals by 101.5% in the second quarter. Acadian Asset Management LLC now owns 34,578 shares of the company’s stock valued at $178,000 after buying an additional 17,416 shares during the period. Opaleye Management Inc. boosted its stake in Syros Pharmaceuticals by 119.1% in the first quarter. Opaleye Management Inc. now owns 787,545 shares of the company’s stock valued at $4,213,000 after acquiring an additional 428,175 shares during the last quarter. Virtu Financial LLC acquired a new stake in Syros Pharmaceuticals during the 1st quarter worth $64,000. Finally, Kennedy Capital Management LLC acquired a new stake in Syros Pharmaceuticals during the 1st quarter worth $2,166,000. 91.47% of the stock is currently owned by 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.