Syros Pharmaceuticals Inc. [NASDAQ: SYRS] gained 10.30% on the last trading session, reaching $12.21 price per share at the time. The company report on December 9, 2020 that Syros Closes $90.5 Million Strategic Financing.
Syros Pharmaceuticals (NASDAQ:SYRS), a leader in the development of medicines that control the expression of genes, announced that it has closed a previously announced private financing with a group of institutional accredited investors led by Bain Capital Life Sciences, with participation from new and existing investors, including Ally Bridge Group, Omega Funds, OrbiMed Advisors, EcoR1 Capital, and Samsara BioCapital.
In this financing, Syros sold an aggregate of 10,312,500 shares of its common stock and pre-funded warrants (Pre-Funded Warrants) to purchase an aggregate of 1,000,000 shares of common stock, and accompanying warrants (Warrants) to purchase an aggregate of up to 2,828,125 additional shares of common stock (or Pre-Funded Warrants in lieu thereof) at a price of $8.00 per share and accompanying Warrant (or $7.99 per Pre-Funded Warrant and accompanying Warrant). The price per Pre-Funded Warrant and accompanying Warrant represents the price of $8.00 per share and accompanying Warrant to be sold in the private placement, minus the $0.01 per share exercise price of each such Pre-Funded Warrant. The exercise price of the Warrants is $11.00 per share, or if exercised for a Pre-Funded Warrant in lieu thereof, $10.99 per Pre-Funded Warrant (representing the Warrant exercise price of $11.00 per share minus the $0.01 per share exercise price of each such Pre-Funded Warrant). The Warrants are exercisable at any time during the period beginning on June 8, 2021 and ending on December 8, 2025. The Pre-Funded Warrants are exercisable at any time after their original issuance and will not expire. The gross proceeds from the sales of common stock and Pre-Funded Warrants are $90.5 million, before deducting offering expenses.
Syros Pharmaceuticals Inc. represents 45.78 million in outstanding shares, while the company has a total market value of $507.08 million with the latest information. SYRS stock price has been found in the range of $11.03 to $12.50.
If compared to the average trading volume of 535.74K shares, SYRS reached a trading volume of 2289215 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Syros Pharmaceuticals Inc. [SYRS]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SYRS shares is $15.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SYRS stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
H.C. Wainwright have made an estimate for Syros Pharmaceuticals Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 04, 2020. While these analysts kept the previous recommendation, Alliance Global Partners raised their target price to Buy. The new note on the price target was released on September 22, 2020, representing the official price target for Syros Pharmaceuticals Inc. stock.
The Average True Range (ATR) for Syros Pharmaceuticals Inc. is set at 0.97, with the Price to Sales ratio for SYRS stock in the period of the last 12 months amounting to 51.22. The Price to Book ratio for the last quarter was 12.21, with the Price to Cash per share for the same quarter was set at 2.24.
Trading performance analysis for SYRS stock
Syros Pharmaceuticals Inc. [SYRS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 20.30. With this latest performance, SYRS shares gained by 53.58% in over the last four-week period, additionally plugging by 19.71% over the last 6 months – not to mention a rise of 96.46% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SYRS stock in for the last two-week period is set at 70.23, with the RSI for the last a single of trading hit 73.38, and the three-weeks RSI is set at 66.42 for Syros Pharmaceuticals Inc. [SYRS]. The present Moving Average for the last 50 days of trading for this stock 8.58, while it was recorded at 11.58 for the last single week of trading, and 9.34 for the last 200 days.
Syros Pharmaceuticals Inc. [SYRS]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Syros Pharmaceuticals Inc. [SYRS] shares currently have an operating margin of -3922.35. Syros Pharmaceuticals Inc.’s Net Margin is presently recorded at -3806.16.
Return on Total Capital for SYRS is now -84.63, given the latest momentum, and Return on Invested Capital for the company is -82.70. Return on Equity for this stock declined to -95.63, with Return on Assets sitting at -58.77. When it comes to the capital structure of this company, Syros Pharmaceuticals Inc. [SYRS] has a Total Debt to Total Equity ratio set at 32.73. Additionally, SYRS Total Debt to Total Capital is recorded at 24.66, with Total Debt to Total Assets ending up at 17.28. Long-Term Debt to Equity for the company is recorded at 31.12, with the Long-Term Debt to Total Capital now at 23.44.
Reflecting on the efficiency of the workforce at the company, Syros Pharmaceuticals Inc. [SYRS] managed to generate an average of -$908,892 per employee. Receivables Turnover for the company is 0.20 with a Total Asset Turnover recorded at a value of 0.02.Syros Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.50 and a Current Ratio set at 3.50.
Syros Pharmaceuticals Inc. [SYRS]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Syros Pharmaceuticals Inc. posted -0.46/share EPS, while the average EPS was predicted by analysts to be reported at -0.47/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SYRS.
An analysis of insider ownership at Syros Pharmaceuticals Inc. [SYRS]
There are presently around $562 million, or 92.90% of SYRS stock, in the hands of institutional investors. The top three institutional holders of SYRS stocks are: ARK INVESTMENT MANAGEMENT LLC with ownership of 11,212,506, which is approximately 31.708% of the company’s market cap and around 0.70% of the total institutional ownership; FMR LLC, holding 6,633,550 shares of the stock with an approximate value of $81.0 million in SYRS stocks shares; and NIKKO ASSET MANAGEMENT AMERICAS, INC., currently with $51.07 million in SYRS stock with ownership of nearly -11.271% of the company’s market capitalization.
Positions in Syros Pharmaceuticals Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 44 institutional holders increased their position in Syros Pharmaceuticals Inc. [NASDAQ:SYRS] by around 4,539,317 shares. Additionally, 45 investors decreased positions by around 3,200,537 shares, while 13 investors held positions by with 38,289,008 shares. The mentioned changes placed institutional holdings at 46,028,862 shares, according to the latest SEC report filing. SYRS stock had 22 new institutional investments in for a total of 529,841 shares, while 8 institutional investors sold positions of 195,517 shares during the same period.