Syros Pharmaceuticals (NASDAQ:SYRS) Stock Passes Below 50-Day Moving Average of $6.38

Shares of Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $6.38 and traded as low as $5.18. Syros Pharmaceuticals shares last traded at $5.56, with a volume of 287,306 shares changing hands.

Wall Street Analysts Forecast Growth

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

Syros Pharmaceuticals Stock Down 7.6 %

The firm has a market cap of $126.17 million, a price-to-earnings ratio of -0.82 and a beta of 1.74. The firm’s 50 day moving average price is $6.29 and its two-hundred day moving average price is $5.18. The company has a debt-to-equity ratio of 2.07, a current ratio of 3.95 and a quick ratio of 3.95.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Syros Pharmaceuticals by 44.8% during the fourth quarter. Vanguard Group Inc. now owns 764,812 shares of the company’s stock worth $5,958,000 after purchasing an additional 236,620 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Syros Pharmaceuticals by 125.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 239,681 shares of the company’s stock worth $1,867,000 after purchasing an additional 133,149 shares in the last quarter. Blue Owl Capital Holdings LP purchased a new position in Syros Pharmaceuticals during the fourth quarter worth about $11,632,000. Opaleye Management Inc. purchased a new position in Syros Pharmaceuticals during the fourth quarter worth about $2,799,000. Finally, Flagship Pioneering Inc. raised its holdings in Syros Pharmaceuticals by 30.2% during the fourth quarter. Flagship Pioneering Inc. now owns 1,293,848 shares of the company’s stock worth $10,079,000 after purchasing an additional 300,000 shares in the last quarter. 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.