Acadian Asset Management LLC Boosts Holdings in Syros Pharmaceuticals, Inc. (NASDAQ:SYRS)

Acadian Asset Management LLC boosted its holdings in shares of Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) by 101.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,578 shares of the company’s stock after buying an additional 17,416 shares during the quarter. Acadian Asset Management LLC owned approximately 0.13% of Syros Pharmaceuticals worth $178,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in shares of Syros Pharmaceuticals in the first quarter worth about $64,000. Kennedy Capital Management LLC purchased a new position in Syros Pharmaceuticals during the first quarter valued at approximately $2,166,000. Opaleye Management Inc. bought a new position in shares of Syros Pharmaceuticals in the fourth quarter worth approximately $2,799,000. Vanguard Group Inc. increased its stake in shares of Syros Pharmaceuticals by 21.3% in the first quarter. Vanguard Group Inc. now owns 928,046 shares of the company’s stock worth $4,965,000 after purchasing an additional 163,234 shares in the last quarter. Finally, Flagship Pioneering Inc. raised its position in shares of Syros Pharmaceuticals by 30.2% during the 4th quarter. Flagship Pioneering Inc. now owns 1,293,848 shares of the company’s stock valued at $10,079,000 after purchasing an additional 300,000 shares during the period. 91.47% of the stock is owned by hedge funds and other institutional investors.

Syros Pharmaceuticals Price Performance

NASDAQ:SYRS opened at $1.95 on Friday. The business’s 50-day moving average is $3.43 and its 200 day moving average is $4.76. Syros Pharmaceuticals, Inc. has a 12 month low of $1.43 and a 12 month high of $8.17. The company has a market capitalization of $52.28 million, a P/E ratio of -0.39 and a beta of 1.58. The company has a current ratio of 3.46, a quick ratio of 3.46 and a debt-to-equity ratio of 1.97.

Syros Pharmaceuticals (NASDAQ:SYRS) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.09. Syros Pharmaceuticals had a negative return on equity of 850.20% and a negative net margin of 1,656.34%. On average, equities research analysts forecast that Syros Pharmaceuticals, Inc. will post -2.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SYRS shares. Piper Sandler reaffirmed an “overweight” rating and issued a $5.00 price objective (down previously from $13.00) on shares of Syros Pharmaceuticals in a research note on Tuesday, August 13th. HC Wainwright cut their price objective on shares of Syros Pharmaceuticals from $15.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Finally, JMP Securities lowered their target price on shares of Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating on the stock in a report on Tuesday, August 13th.

Insider Buying and Selling at Syros Pharmaceuticals

In other news, Director Richard A. Young sold 34,837 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $5.12, for a total value of $178,365.44. Following the sale, the director now directly owns 8,000 shares in the company, valued at approximately $40,960. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Conley Chee purchased 50,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was bought at an average cost of $1.51 per share, for a total transaction of $75,500.00. Following the completion of the transaction, the chief executive officer now directly owns 72,504 shares in the company, valued at $109,481.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard A. Young sold 34,837 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $5.12, for a total transaction of $178,365.44. Following the transaction, the director now owns 8,000 shares in the company, valued at approximately $40,960. The disclosure for this sale can be found here. Insiders acquired 130,707 shares of company stock worth $206,491 over the last 90 days. 12.26% of the stock is owned by insiders.

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.