SYRS - Syros Pharma up 18% day after ARK Innovation dumps shares

Syros Pharmaceuticals (SYRS) shares are up more than 18% in afternoon trading, a day after Cathie Wood's ARK Innovation ETF (ARKK) liquidated its position in the company.Wood unloaded ~3.6M Syros shares yesterday, which represented 0.09% of the fund's holdings.One possible explanation for the rise in shares is that the company yesterday held a key opinion leader webcast discussing SY-1425 in newly diagnosed higher-risk myelodysplastic syndrome.The candidate is an oral first-in-class selective retinoic acid receptor alpha (RAR?) agonist.ARK Innovation shares are up 0.2% to $111.64 in afternoon trading.

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Syros Pharma up 18% day after ARK Innovation dumps shares