Short Interest in Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) Grows By 345.9%

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 4,190,000 shares, an increase of 345.9% from the February 28th total of 939,600 shares. Approximately 17.7% of the company’s shares are sold short. Based on an average daily trading volume, of 22,260,000 shares, the short-interest ratio is currently 0.2 days.

Institutional Investors Weigh In On Syros Pharmaceuticals

A hedge fund recently bought a new stake in Syros Pharmaceuticals stock. Two Sigma Securities LLC purchased a new position in shares of Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 107,742 shares of the company’s stock, valued at approximately $25,000. Two Sigma Securities LLC owned approximately 0.40% of Syros Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 91.47% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Syros Pharmaceuticals in a research report on Friday, March 21st. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.33.

Syros Pharmaceuticals Trading Down 1.9 %

NASDAQ:SYRS opened at $0.03 on Friday. Syros Pharmaceuticals has a twelve month low of $0.02 and a twelve month high of $6.93. The firm has a market capitalization of $815,692.80, a price-to-earnings ratio of -0.01 and a beta of 1.31. The firm’s fifty day simple moving average is $0.14 and its 200 day simple moving average is $0.81.

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.