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 traded.

Wall Street Analysts Forecast Growth

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

Syros Pharmaceuticals Trading Up 0.7 %

The firm’s fifty day moving average price is $5.94 and its 200 day moving average price is $5.34. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 2.07.

Syros Pharmaceuticals (NASDAQ:SYRS) last released its quarterly earnings data on Wednesday, March 27th. The company reported ($1.19) EPS for the quarter, beating the consensus estimate of ($1.23) by $0.04. The business had revenue of $0.39 million for the quarter, compared to the consensus estimate of $2.40 million. Syros Pharmaceuticals had a negative net margin of 1,656.34% and a negative return on equity of 227.91%. On average, research analysts expect that Syros Pharmaceuticals, Inc. will post -3.78 EPS for the current fiscal year.

Institutional Trading of Syros Pharmaceuticals

Large investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. lifted its stake in shares of Syros Pharmaceuticals by 142.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 25,130 shares of the company’s stock valued at $99,000 after purchasing an additional 14,754 shares during the period. Opaleye Management Inc. acquired a new position in shares of Syros Pharmaceuticals in the 4th quarter valued at $2,799,000. CHI Advisors LLC lifted its stake in shares of Syros Pharmaceuticals by 69.3% in the 3rd quarter. CHI Advisors LLC now owns 1,299,359 shares of the company’s stock valued at $5,119,000 after purchasing an additional 531,914 shares during the period. Avidity Partners Management LP lifted its stake in shares of Syros Pharmaceuticals by 8.0% in the 3rd quarter. Avidity Partners Management LP now owns 1,581,142 shares of the company’s stock valued at $6,246,000 after purchasing an additional 117,108 shares during the period. Finally, Flagship Pioneering Inc. lifted its stake in shares of Syros Pharmaceuticals by 30.2% in the 4th quarter. Flagship Pioneering Inc. now owns 1,293,848 shares of the company’s stock valued at $10,079,000 after purchasing an additional 300,000 shares during the period. 91.47% of the stock is 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.