Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report)'s share price traded down 7.7% on Monday . The stock traded as low as $16.54 and last traded at $16.56. 237,802 shares were traded during mid-day trading, a decline of 57% from the average session volume of 554,979 shares. The stock had previously closed at $17.94.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on SYRE shares. Wedbush reaffirmed an "outperform" rating and set a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday, January 13th. The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 18th. Finally, Wolfe Research started coverage on shares of Spyre Therapeutics in a report on Tuesday, March 18th. They issued an "outperform" rating and a $27.00 price target on the stock. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $50.33.
Get Our Latest Report on Spyre Therapeutics
Spyre Therapeutics Stock Performance
The company has a market capitalization of $843.00 million, a PE ratio of -1.87 and a beta of 2.98. The stock's fifty day simple moving average is $20.03 and its 200-day simple moving average is $25.22.
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 (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.08. On average, equities analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 EPS for the current year.
Institutional Investors Weigh In On Spyre Therapeutics
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its position in Spyre Therapeutics by 6.5% during the fourth quarter. Wellington Management Group LLP now owns 1,604,508 shares of the company's stock worth $37,353,000 after buying an additional 97,308 shares during the period. California State Teachers Retirement System boosted its position in shares of Spyre Therapeutics by 32.1% in the fourth quarter. California State Teachers Retirement System now owns 32,598 shares of the company's stock worth $759,000 after acquiring an additional 7,923 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Spyre Therapeutics in the fourth quarter worth approximately $2,844,000. GF Fund Management CO. LTD. acquired a new stake in shares of Spyre Therapeutics in the fourth quarter worth approximately $29,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Spyre Therapeutics by 85.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 48,981 shares of the company's stock worth $1,140,000 after purchasing an additional 22,540 shares during the last quarter. Hedge funds and other institutional investors own 80.39% of the company's stock.
Spyre Therapeutics Company Profile
(
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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).
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