Spyre Therapeutics (NASDAQ:SYRE) Hits New 1-Year Low - What's Next?

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report)'s stock price hit a new 52-week low on Tuesday . The company traded as low as $20.25 and last traded at $20.09, with a volume of 133465 shares changing hands. The stock had previously closed at $21.26.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group raised shares of Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, February 18th. Wedbush reiterated an "outperform" rating and set a $65.00 price target on shares of Spyre Therapeutics in a research report on Monday, January 13th. Finally, Robert W. Baird boosted their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $54.83.

Spyre Therapeutics Stock Up 7.2 %

The firm's 50 day simple moving average is $22.45 and its 200 day simple moving average is $26.83. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -2.64 and a beta of 2.85.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.08. Analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.

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Institutional Investors Weigh In On Spyre Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of SYRE. Emerald Mutual Fund Advisers Trust acquired a new position in Spyre Therapeutics during the 3rd quarter valued at about $7,457,000. Emerald Advisers LLC bought a new position in shares of Spyre Therapeutics in the third quarter valued at approximately $8,604,000. Quest Partners LLC increased its stake in shares of Spyre Therapeutics by 271.2% during the third quarter. Quest Partners LLC now owns 5,654 shares of the company's stock valued at $166,000 after acquiring an additional 4,131 shares during the period. Intech Investment Management LLC bought a new stake in Spyre Therapeutics during the third quarter worth approximately $246,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Spyre Therapeutics by 239.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 333,275 shares of the company's stock worth $9,802,000 after purchasing an additional 235,094 shares during the period. 80.39% of the stock is currently owned by institutional investors.

Spyre Therapeutics Company Profile

Spyre Therapeutics, Inc, a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease).