Syros Pharmaceuticals Inc (NASDAQ:SYRS) Major Shareholder Sells $489,510.00 in Stock

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Syros Pharmaceuticals Inc (NASDAQ:SYRS) major shareholder Venture Fund Vii L.P. Arch sold 63,000 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $7.77, for a total value of $489,510.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of NASDAQ:SYRS traded down $0.04 during trading on Wednesday, reaching $7.59. The stock had a trading volume of 136,000 shares, compared to its average volume of 181,252. Syros Pharmaceuticals Inc has a 52 week low of $5.17 and a 52 week high of $13.16. The firm has a 50-day simple moving average of $7.15. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.19 and a quick ratio of 5.19. The company has a market cap of $312.29 million, a PE ratio of -3.97 and a beta of 1.95.

Syros Pharmaceuticals (NASDAQ:SYRS) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.08. Syros Pharmaceuticals had a negative net margin of 3,012.04% and a negative return on equity of 74.28%. The business had revenue of $0.45 million during the quarter, compared to analyst estimates of $0.42 million. Equities research analysts anticipate that Syros Pharmaceuticals Inc will post -1.82 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA bought a new stake in Syros Pharmaceuticals in the 1st quarter valued at $48,000. Bank of America Corp DE grew its stake in Syros Pharmaceuticals by 205.9% in the 4th quarter. Bank of America Corp DE now owns 17,400 shares of the company’s stock valued at $98,000 after buying an additional 11,711 shares during the last quarter. Rhumbline Advisers grew its position in shares of Syros Pharmaceuticals by 51.4% during the 4th quarter. Rhumbline Advisers now owns 32,406 shares of the company’s stock worth $181,000 after purchasing an additional 10,995 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of Syros Pharmaceuticals by 8.3% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 40,380 shares of the company’s stock worth $369,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Syros Pharmaceuticals by 8.9% during the 4th quarter. Bank of New York Mellon Corp now owns 84,537 shares of the company’s stock worth $470,000 after purchasing an additional 6,883 shares in the last quarter. 56.16% of the stock is owned by institutional investors.

Several equities research analysts have recently issued reports on the company. Piper Jaffray Companies set a $44.00 price target on First Merchants and gave the company a “buy” rating in a research report on Wednesday, April 10th. Roth Capital restated a “buy” rating and set a $17.00 price target on shares of Syros Pharmaceuticals in a research note on Friday, July 12th. BidaskClub upgraded shares of Westport Fuel Systems from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. HC Wainwright restated a “neutral” rating on shares of Syros Pharmaceuticals in a research note on Thursday, May 2nd. Finally, Zacks Investment Research cut shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Syros Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $16.03.

Syros Pharmaceuticals Company Profile

Syros Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development of treatment for cancer and monogenic diseases, and building a pipeline of gene control medicines. Its lead product candidates include SY-1425, a selective retinoic acid receptor alpha agonist, which is in a Phase II clinical trial for genomically defined subsets of patients with acute myeloid leukemia (AML) and myelodysplastic syndrome; SY-1365, a selective cyclin-dependent kinase 7 (CDK7) inhibitor, which is in a Phase I clinical trial that is used for treating patients with solid tumors and blood cancers, including ovarian and breast cancer; and SY-5609, a CDK7 inhibitor, which is in preclinical studies to treat oncology patients.

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