Spyre Therapeutics (NASDAQ:SYRE) Hits New 52-Week Low - Time to Sell?

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $11.60 and last traded at $11.68, with a volume of 17513 shares. The stock had previously closed at $12.79.

Analysts Set New Price Targets

A number of research analysts recently commented on SYRE shares. Leerink Partnrs upgraded Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday. The Goldman Sachs Group raised shares of Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 18th. Wolfe Research started coverage on shares of Spyre Therapeutics in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $27.00 price target on the stock. Wedbush reiterated an "outperform" rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research report on Monday, January 13th. Finally, Leerink Partners initiated coverage on Spyre Therapeutics in a research report on Tuesday. They issued an "outperform" rating and a $45.00 target price on the stock. Eight research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $49.57.

Spyre Therapeutics Price Performance

The company has a fifty day moving average of $18.46 and a 200 day moving average of $24.29. The stock has a market cap of $736.34 million, a P/E ratio of -1.64 and a beta of 3.05.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.08. As a group, analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 EPS for the current year.

Institutional Trading of Spyre Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in shares of Spyre Therapeutics in the first quarter valued at $70,000. Wellington Management Group LLP increased its stake in shares of Spyre Therapeutics by 6.5% during the 4th quarter. Wellington Management Group LLP now owns 1,604,508 shares of the company's stock worth $37,353,000 after purchasing an additional 97,308 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Spyre Therapeutics by 32.1% in the 4th quarter. California State Teachers Retirement System now owns 32,598 shares of the company's stock valued at $759,000 after acquiring an additional 7,923 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Spyre Therapeutics in the 4th quarter worth $2,844,000. Finally, GF Fund Management CO. LTD. bought a new stake in Spyre Therapeutics during the fourth quarter valued at about $29,000. 80.39% of the stock is owned by institutional investors and hedge funds.

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).