Syros Pharmaceuticals Inc (NASDAQ:SYRS) Director Buys $3,999,990.00 in Stock

Syros Pharmaceuticals Inc (NASDAQ:SYRS) Director Srinivas Akkaraju purchased 533,332 shares of Syros Pharmaceuticals stock in a transaction that occurred on Tuesday, April 9th. The shares were bought at an average cost of $7.50 per share, for a total transaction of $3,999,990.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of SYRS traded up $0.06 during trading on Friday, reaching $6.90. The company’s stock had a trading volume of 140,987 shares, compared to its average volume of 178,728. Syros Pharmaceuticals Inc has a twelve month low of $5.17 and a twelve month high of $13.73. The firm has a market cap of $226.09 million, a price-to-earnings ratio of -3.61 and a beta of 1.10.

Syros Pharmaceuticals (NASDAQ:SYRS) last announced its earnings results on Wednesday, May 1st. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.57) by $0.08. Syros Pharmaceuticals had a negative return on equity of 64.43% and a negative net margin of 3,038.00%. The company had revenue of $0.45 million for the quarter, compared to analyst estimates of $0.42 million. On average, analysts anticipate that Syros Pharmaceuticals Inc will post -2 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA acquired a new position in shares of Syros Pharmaceuticals in the 1st quarter valued at approximately $48,000. Bank of America Corp DE raised its position in shares of 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 purchasing an additional 11,711 shares in the last quarter. MetLife Investment Advisors LLC raised its position in shares of Syros Pharmaceuticals by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 20,338 shares of the company’s stock valued at $242,000 after purchasing an additional 7,230 shares in the last quarter. Rhumbline Advisers raised its position in shares of Syros Pharmaceuticals by 51.4% in the 4th quarter. Rhumbline Advisers now owns 32,406 shares of the company’s stock valued at $181,000 after purchasing an additional 10,995 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Syros Pharmaceuticals by 8.3% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 40,380 shares of the company’s stock valued at $369,000 after purchasing an additional 3,100 shares in the last quarter. 67.83% of the stock is currently owned by institutional investors.

Several research firms recently commented on SYRS. BidaskClub raised Syros Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Wedbush reissued an “outperform” rating and set a $13.00 price target on shares of Syros Pharmaceuticals in a research report on Thursday, April 25th. JMP Securities reissued a “mkt outperform” rating and set a $18.00 price target on shares of Syros Pharmaceuticals in a research report on Friday, March 8th. HC Wainwright reissued a “hold” rating and set a $10.00 price target on shares of Syros Pharmaceuticals in a research report on Friday, March 8th. Finally, Oppenheimer set a $13.00 price target on Syros Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Syros Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $16.38.

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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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