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

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS)’s share price 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.

Wall Street Analysts Forecast Growth

SYRS has been the topic of several recent research reports. HC Wainwright restated a “buy” rating and issued a $15.00 price target on shares of Syros Pharmaceuticals in a research report on Monday, April 1st. StockNews.com lowered shares of Syros Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Finally, Piper Sandler restated an “overweight” rating and issued a $13.00 price target on shares of Syros Pharmaceuticals in a research report on Wednesday, April 3rd.

Syros Pharmaceuticals Stock Performance

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 stock has a market capitalization of $147.06 million, a PE ratio of -0.97 and a beta of 1.75. The firm’s 50-day simple moving average is $6.38 and its two-hundred day simple moving average is $5.19.

Hedge Funds Weigh In On Syros Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP purchased a new position in Syros Pharmaceuticals during the 4th quarter worth approximately $38,000. Price T Rowe Associates Inc. MD purchased a new position in Syros Pharmaceuticals during the 4th quarter worth approximately $44,000. Virtu Financial LLC purchased a new position in shares of Syros Pharmaceuticals during the 4th quarter valued at $45,000. HighTower Advisors LLC purchased a new position in shares of Syros Pharmaceuticals during the 4th quarter valued at $53,000. Finally, CIBC Asset Management Inc purchased a new position in shares of Syros Pharmaceuticals during the 1st quarter valued at $41,000. 91.47% of the stock is currently 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.