StockNews.com Initiates Coverage on Syros Pharmaceuticals (NASDAQ:SYRS)

StockNews.com initiated coverage on shares of Syros Pharmaceuticals (NASDAQ:SYRS) in a report issued on Monday. The brokerage issued a sell rating on the stock.

A number of other equities analysts have also weighed in on the company. TD Cowen reiterated a “hold” rating on shares of Syros Pharmaceuticals in a research note on Wednesday, November 13th. JMP Securities reiterated a “market perform” rating on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. HC Wainwright reiterated a “neutral” rating and set a $1.00 price target (down from $6.00) on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. Finally, Brookline Capital Management reaffirmed a “hold” rating on shares of Syros Pharmaceuticals in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $3.33.

Syros Pharmaceuticals Price Performance

Shares of Syros Pharmaceuticals stock opened at $0.18 on Monday. The firm has a fifty day moving average price of $0.21 and a 200 day moving average price of $1.23. Syros Pharmaceuticals has a 1 year low of $0.16 and a 1 year high of $7.96. The stock has a market cap of $4.82 million, a PE ratio of -0.06 and a beta of 1.29.

Insider Activity at Syros Pharmaceuticals

In other news, Director Nancy A. Simonian sold 134,713 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was 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 directly owns 41,070 shares in the company, valued at $11,088.90. The trade was a 76.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On Syros Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Exome Asset Management LLC raised its position in shares of Syros Pharmaceuticals by 87.6% during the 3rd quarter. Exome Asset Management LLC now owns 298,575 shares of the company’s stock worth $642,000 after purchasing an additional 139,400 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in Syros Pharmaceuticals during the 4th quarter worth approximately $25,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Syros Pharmaceuticals during the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 91.47% of the company’s stock.

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.