Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report)'s share price traded down 7.7% on Tuesday . The stock traded as low as $16.33 and last traded at $15.85. 217,607 shares traded hands during trading, a decline of 65% from the average session volume of 614,384 shares. The stock had previously closed at $17.18.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. Wedbush reaffirmed an "outperform" rating and set a $65.00 target price on shares of Spyre Therapeutics in a research report on Monday, May 5th. The Goldman Sachs Group upgraded Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, February 18th. Leerink Partners began coverage on shares of Spyre Therapeutics in a report on Tuesday, April 8th. They set an "outperform" rating and a $45.00 target price on the stock. Leerink Partnrs raised shares of Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, April 8th. Finally, Wolfe Research assumed coverage on shares of Spyre Therapeutics in a research report on Tuesday, March 18th. They issued an "outperform" rating and a $27.00 price target for the company. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $53.40.
Read Our Latest Stock Report on Spyre Therapeutics
Spyre Therapeutics Stock Performance
The company has a market capitalization of $911.67 million, a price-to-earnings ratio of -2.05 and a beta of 2.72. The business's 50 day moving average is $14.79 and its 200 day moving average is $19.01.
Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.74) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.76) by $0.02. Sell-side analysts predict that Spyre Therapeutics, Inc. will post -4.46 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the business. Woodline Partners LP lifted its holdings in shares of Spyre Therapeutics by 31.8% in the 1st quarter. Woodline Partners LP now owns 464,808 shares of the company's stock valued at $7,500,000 after buying an additional 112,128 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Spyre Therapeutics by 18.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company's stock valued at $442,000 after acquiring an additional 4,277 shares in the last quarter. ADAR1 Capital Management LLC acquired a new position in Spyre Therapeutics in the first quarter valued at approximately $243,000. Paradigm Biocapital Advisors LP boosted its position in Spyre Therapeutics by 39.3% in the 1st quarter. Paradigm Biocapital Advisors LP now owns 2,127,205 shares of the company's stock worth $34,322,000 after purchasing an additional 600,000 shares in the last quarter. Finally, Corebridge Financial Inc. grew its stake in shares of Spyre Therapeutics by 13.8% during the 1st quarter. Corebridge Financial Inc. now owns 19,595 shares of the company's stock worth $316,000 after purchasing an additional 2,382 shares during the period. Hedge funds and other institutional investors own 80.39% of the company's stock.
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).
See Also
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