Spyre Therapeutics (NASDAQ:SYRE) Trading 5.2% Higher - What's Next?

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) shares shot up 5.2% on Thursday . The company traded as high as $17.83 and last traded at $17.91. 127,940 shares changed hands during trading, a decline of 77% from the average session volume of 548,511 shares. The stock had previously closed at $17.02.

Wall Street Analyst Weigh In

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

Spyre Therapeutics Stock Performance

The company has a market cap of $972.55 million, a P/E ratio of -2.16 and a beta of 2.98. The business's 50-day moving average price is $20.54 and its 200 day moving average price is $25.55.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, topping analysts' consensus estimates of ($0.89) by $0.08. Equities research analysts forecast that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

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Institutional Trading of Spyre Therapeutics

A number of hedge funds have recently modified their holdings of SYRE. GF Fund Management CO. LTD. bought a new position in Spyre Therapeutics in the 4th quarter valued at about $29,000. Huntington National Bank bought a new position in shares of Spyre Therapeutics during the fourth quarter worth approximately $34,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Spyre Therapeutics during the 4th quarter worth approximately $46,000. KLP Kapitalforvaltning AS bought a new stake in Spyre Therapeutics in the 4th quarter valued at $182,000. Finally, Intech Investment Management LLC acquired a new position in Spyre Therapeutics in the 3rd quarter valued at $246,000. Institutional investors and hedge funds 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).