Syros Pharmaceuticals Inc. [NASDAQ: SYRS] traded at a high on 09/13/22, posting a 4.87 gain after which it closed the day’ session at $0.77. The company report on September 13, 2022 that Syros Receives FDA Orphan Drug Designation for SY-5609 for the Treatment of Pancreatic Cancer.
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Syros Pharmaceuticals, Inc. (NASDAQ:SYRS), a leader in the development of medicines that control the expression of genes, today announced that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation (ODD) to SY-5609 for the treatment of pancreatic cancer. SY-5609, a highly selective and potent oral cyclin-dependent kinase 7 (CDK7) inhibitor, is currently being evaluated in combination with chemotherapy for the treatment of patients with relapsed metastatic pancreatic cancer.
“This orphan drug designation underscores the urgency of our efforts to develop SY-5609 for patients with pancreatic cancer, one of the most devastating and difficult to treat malignancies,” said David A. Roth, M.D., Chief Medical Officer of Syros. “Based on the early data we reported last year, which demonstrated single-agent activity in heavily pre-treated patients, as well as compelling preclinical data and a strong mechanistic rationale, we believe SY-5609 could deliver meaningful benefit to people with pancreatic cancer, whose tumors have otherwise eluded therapeutic intervention. We look forward to sharing initial data from the safety lead-in portion of our ongoing Phase 1 study later this year.”.
The results of the trading session contributed to over 25694855 shares changing hands. Over the past one week, the price volatility of Syros Pharmaceuticals Inc. stands at 9.17% while the volatility over the past one month is 7.91%.
The market cap for SYRS stock reached $45.64 million, with 63.82 million shares outstanding and 59.88 million shares in the current float. Compared to the average trading volume of 857.81K shares, SYRS reached a trading volume of 25694855 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $8.40 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 1.80. 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 0.08, with the Price to Sales ratio for SYRS stock in the period of the last 12 months amounting to 1.81. The Price to Book ratio for the last quarter was 1.56, with the Price to Cash per share for the same quarter was set at 1.45.
How has SYRS stock performed recently?
Syros Pharmaceuticals Inc. [SYRS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.81. With this latest performance, SYRS shares dropped by -19.81% in over the last four-week period, additionally sinking by -28.42% over the last 6 months – not to mention a drop of -85.36% 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 44.76, with the RSI for the last a single of trading hit 47.50, and the three-weeks RSI is set at 44.66 for Syros Pharmaceuticals Inc. [SYRS]. The present Moving Average for the last 50 days of trading for this stock 0.8592, while it was recorded at 0.7107 for the last single week of trading, and 1.5204 for the last 200 days.
Syros Pharmaceuticals Inc. [SYRS]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Syros Pharmaceuticals Inc. [SYRS] shares currently have an operating margin of -423.28. Syros Pharmaceuticals Inc.’s Net Margin is presently recorded at -368.52.
Return on Equity for this stock declined to -98.49, with Return on Assets sitting at -43.70.
Syros Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 2.40.
Insider trade positions for Syros Pharmaceuticals Inc. [SYRS]
There are presently around $27 million, or 57.70% of SYRS stock, in the hands of institutional investors. The top three institutional holders of SYRS stocks are: BAIN CAPITAL LIFE SCIENCES INVESTORS, LLC with ownership of 6,264,420, which is approximately 0% of the company’s market cap and around 1.30% of the total institutional ownership; ARTAL GROUP S.A., holding 4,000,000 shares of the stock with an approximate value of $3.06 million in SYRS stocks shares; and ALLY BRIDGE GROUP (NY) LLC, currently with $2.58 million in SYRS stock with ownership of nearly 0% of the company’s market capitalization.
Positions in Syros Pharmaceuticals Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 30 institutional holders increased their position in Syros Pharmaceuticals Inc. [NASDAQ:SYRS] by around 3,260,474 shares. Additionally, 62 investors decreased positions by around 12,284,767 shares, while 13 investors held positions by with 20,034,974 shares. The mentioned changes placed institutional holdings at 35,580,215 shares, according to the latest SEC report filing. SYRS stock had 13 new institutional investments in for a total of 1,153,866 shares, while 35 institutional investors sold positions of 3,873,333 shares during the same period.