Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) fell 9.2% during trading on Friday . The stock traded as low as $21.65 and last traded at $21.80. 138,307 shares were traded during trading, a decline of 70% from the average session volume of 465,685 shares. The stock had previously closed at $24.02.
Wall Street Analysts Forecast Growth
SYRE has been the subject of several research reports. Wedbush reissued an "outperform" rating and issued a $45.00 price target on shares of Spyre Therapeutics in a research report on Friday, November 8th. Guggenheim lifted their price objective on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company a "buy" rating in a report on Friday, October 25th. Finally, Robert W. Baird upped their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Spyre Therapeutics has a consensus rating of "Buy" and an average price target of $51.50.
Check Out Our Latest Research Report on SYRE
Spyre Therapeutics Stock Performance
The stock has a market cap of $1.16 billion, a PE ratio of -3.01 and a beta of 2.86. The business has a 50 day moving average price of $27.62 and a two-hundred day moving average price of $28.12.
Institutional Investors Weigh In On Spyre Therapeutics
Several large investors have recently made changes to their positions in SYRE. Amalgamated Bank bought a new stake in Spyre Therapeutics in the second quarter worth about $28,000. Quest Partners LLC purchased a new position in Spyre Therapeutics in the second quarter valued at approximately $36,000. Intech Investment Management LLC bought a new position in Spyre Therapeutics during the third quarter valued at $246,000. Carlyle Group Inc. purchased a new stake in Spyre Therapeutics in the second quarter worth $227,000. Finally, SG Americas Securities LLC raised its stake in shares of Spyre Therapeutics by 127.0% in the third quarter. SG Americas Securities LLC now owns 12,589 shares of the company's stock valued at $370,000 after buying an additional 7,044 shares during the period. 80.39% of the stock is owned by hedge funds and other institutional investors.
About Spyre Therapeutics
(
Get Free Report)
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).
Further Reading
Before you consider Spyre Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Spyre Therapeutics wasn't on the list.
While Spyre Therapeutics currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
