Syros Pharmaceuticals (NASDAQ:SYRS) Share Price Passes Below 50 Day Moving Average – Here’s Why

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) shares passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $0.19 and traded as low as $0.07. Syros Pharmaceuticals shares last traded at $0.09, with a volume of 25,822,554 shares changing hands.

Analyst Ratings Changes

SYRS has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “neutral” rating and set a $1.00 price objective (down from $6.00) on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. JMP Securities reaffirmed a “market perform” rating on shares of Syros Pharmaceuticals in a report on Wednesday, November 13th. TD Cowen restated a “hold” rating on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. Brookline Capital Management reaffirmed a “hold” rating on shares of Syros Pharmaceuticals in a report on Wednesday, November 13th. Finally, StockNews.com initiated coverage on Syros Pharmaceuticals in a report on Wednesday. They set a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Syros Pharmaceuticals has an average rating of “Hold” and an average price target of $3.33.

Syros Pharmaceuticals Price Performance

The stock has a 50-day moving average of $0.19 and a 200-day moving average of $0.99. The firm has a market cap of $2.28 million, a price-to-earnings ratio of -0.03 and a beta of 1.29.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SYRS. Two Sigma Securities LLC bought a new stake in Syros Pharmaceuticals during the fourth quarter worth about $25,000. GSA Capital Partners LLP acquired a new position in shares of Syros Pharmaceuticals in the 3rd quarter valued at approximately $34,000. Finally, Exome Asset Management LLC lifted its holdings in shares of Syros Pharmaceuticals by 87.6% during the 3rd quarter. Exome Asset Management LLC now owns 298,575 shares of the company’s stock worth $642,000 after acquiring an additional 139,400 shares during the period. 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.