Syros Pharmaceuticals (NASDAQ:SYRS) Rating Lowered to Sell at StockNews.com

Syros Pharmaceuticals (NASDAQ:SYRS) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Several other research firms have also recently weighed in on SYRS. Piper Sandler restated an “overweight” rating and set a $13.00 price objective on shares of Syros Pharmaceuticals in a research report on Wednesday, April 3rd. HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Syros Pharmaceuticals in a research report on Monday, April 1st.

Syros Pharmaceuticals Price Performance

NASDAQ:SYRS traded down $0.45 during trading hours on Wednesday, hitting $5.11. The stock had a trading volume of 125,722 shares, compared to its average volume of 218,592. The company has a 50 day simple moving average of $6.34 and a two-hundred day simple moving average of $5.19. The company has a debt-to-equity ratio of 2.07, a current ratio of 3.95 and a quick ratio of 3.95. Syros Pharmaceuticals has a one year low of $2.09 and a one year high of $8.17. The firm has a market capitalization of $136.59 million, a price-to-earnings ratio of -0.89 and a beta of 1.74.

Institutional Trading of Syros Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bain Capital Life Sciences Investors LLC raised its position in shares of Syros Pharmaceuticals by 29.4% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 2,749,808 shares of the company’s stock valued at $21,421,000 after buying an additional 625,114 shares in the last quarter. Avidity Partners Management LP raised its position in Syros Pharmaceuticals by 5.8% in the 4th quarter. Avidity Partners Management LP now owns 1,673,538 shares of the company’s stock worth $13,037,000 after purchasing an additional 92,396 shares during the period. Blue Owl Capital Holdings LP purchased a new position in Syros Pharmaceuticals in the 4th quarter worth $11,632,000. Point72 Asset Management L.P. purchased a new position in Syros Pharmaceuticals in the 4th quarter worth $11,465,000. Finally, CHI Advisors LLC raised its position in Syros Pharmaceuticals by 69.3% in the 3rd quarter. CHI Advisors LLC now owns 1,299,359 shares of the company’s stock worth $5,119,000 after purchasing an additional 531,914 shares during the period. 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.