5 Best One Dollar Stocks To Buy Now

4. Syros Pharmaceuticals, Inc. (NASDAQ:SYRS)

Number Of Hedge Fund Holders: 11

Share Price as of August 1: $0.79

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) operates as a biopharmaceutical company that focuses on developing treatments for cancer and immune-mediated diseases, as well as building a pipeline of gene control medicines. The company’s lead product candidates include Tamibarotene, a selective retinoic acid receptor alpha agonist, which is in Phase III clinical trial for genomically defined subset of patients with myelodysplastic syndrome.

On July 12, H.C. Wainwright analyst Andrew Fein lowered the price target on Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) to $6 from $10 and maintained a Buy rating on the shares. According to the analyst, the recent announcement that revealed Syros Pharmaceuticals will be raising $190 million through a merger with TYME Technologies and a PIPE financing “not only represents a clever solution to navigating the current capital markets but also serves to ensure cash runway (into 2025) beyond the SELECT-MDS-1 pivotal data.”  The analyst says the stock’s “multiple catalysts make for an attractive entry point.”

Out of the hedge funds being tracked by Insider Monkey, California-based investment firm Samsara BioCapital is a leading shareholder in Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) with approximately 1.9 million shares worth more than $2.26 million. Overall, 11 elite funds reported owning stakes in Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) at the end of the first quarter of 2022.