StockNews.com Lowers Syros Pharmaceuticals (NASDAQ:SYRS) to Sell

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

Several other equities research analysts have also issued reports on SYRS. Piper Sandler reiterated an “overweight” rating and set a $13.00 price target on shares of Syros Pharmaceuticals in a report on Wednesday, April 3rd. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Syros Pharmaceuticals in a report on Monday, April 1st.

Syros Pharmaceuticals Trading Down 7.6 %

Shares of NASDAQ SYRS opened at $4.72 on Wednesday. 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 $126.17 million, a PE ratio of -0.82 and a beta of 1.74. 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 has a 50-day moving average price of $6.29 and a two-hundred day moving average price of $5.18.

Institutional Investors Weigh In On Syros Pharmaceuticals

Several institutional investors have recently made changes to their positions in the company. Blue Owl Capital Holdings LP bought a new position in shares of Syros Pharmaceuticals in the 4th quarter valued at approximately $11,632,000. Point72 Asset Management L.P. bought a new position in shares of Syros Pharmaceuticals in the 4th quarter valued at approximately $11,465,000. Renaissance Technologies LLC bought a new position in shares of Syros Pharmaceuticals in the 1st quarter valued at approximately $975,000. Bain Capital Life Sciences Investors LLC raised its stake in shares of Syros Pharmaceuticals by 29.4% in 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 acquiring an additional 625,114 shares in the last quarter. Finally, CHI Advisors LLC raised 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 acquiring an additional 531,914 shares in the last quarter. 91.47% of the stock is currently owned by institutional investors and hedge funds.

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.