Spyre Therapeutics (NASDAQ:SYRE) Reaches New 52-Week Low - Here's Why

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report)'s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $16.13 and last traded at $16.14, with a volume of 740838 shares. The stock had previously closed at $17.94.

Analysts Set New Price Targets

Several equities analysts have weighed in on SYRE shares. Wedbush reissued an "outperform" rating and set a $65.00 price objective on shares of Spyre Therapeutics in a report on Monday, January 13th. The Goldman Sachs Group upgraded Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 18th. Finally, Wolfe Research began coverage on Spyre Therapeutics in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $27.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Spyre Therapeutics has a consensus rating of "Buy" and an average target price of $50.33.

Spyre Therapeutics Stock Down 9.7 %

The company has a market capitalization of $843.00 million, a PE ratio of -1.87 and a beta of 2.98. The company has a 50-day moving average price of $20.19 and a two-hundred day moving average price of $25.30.

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

Remove Ads

Institutional Investors Weigh In On Spyre Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Driehaus Capital Management LLC increased its stake in Spyre Therapeutics by 308.1% in the 4th quarter. Driehaus Capital Management LLC now owns 2,803,655 shares of the company's stock worth $65,269,000 after acquiring an additional 2,116,575 shares during the last quarter. FMR LLC increased its position in shares of Spyre Therapeutics by 15.4% in the fourth quarter. FMR LLC now owns 8,801,266 shares of the company's stock worth $204,893,000 after purchasing an additional 1,177,385 shares during the last quarter. Jefferies Financial Group Inc. raised its stake in Spyre Therapeutics by 167.6% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,216,954 shares of the company's stock valued at $28,331,000 after purchasing an additional 762,147 shares in the last quarter. Wellington Management Group LLP grew its stake in Spyre Therapeutics by 89.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,507,200 shares of the company's stock worth $44,327,000 after buying an additional 711,254 shares in the last quarter. Finally, Boxer Capital Management LLC bought a new position in shares of Spyre Therapeutics in the 4th quarter worth $10,864,000. Hedge funds and other institutional investors own 80.39% of the company's stock.

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).