Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) rose 7.1% on Tuesday . The stock traded as high as $16.52 and last traded at $16.49. Approximately 100,371 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 613,212 shares. The stock had previously closed at $15.40.
Wall Street Analysts Forecast Growth
SYRE has been the subject of several recent research reports. Wedbush reiterated an "outperform" rating and issued a $65.00 price target 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 research report on Tuesday, February 18th. Wolfe Research initiated coverage on Spyre Therapeutics in a research report on Tuesday, March 18th. They issued an "outperform" rating and a $27.00 price target for the company. Leerink Partnrs upgraded Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, April 8th. Finally, Leerink Partners began coverage on Spyre Therapeutics in a research report on Tuesday, April 8th. They set an "outperform" rating and a $45.00 target price for the company. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Spyre Therapeutics presently has an average rating of "Buy" and an average price target of $53.40.
Check Out Our Latest Research Report on Spyre Therapeutics
Spyre Therapeutics Stock Up 2.1%
The company has a 50-day moving average of $14.23 and a 200 day moving average of $19.50. The firm has a market capitalization of $1.02 billion, a PE ratio of -2.27 and a beta of 2.78.
Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.02. As a group, equities analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.
Hedge Funds Weigh In On Spyre Therapeutics
Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC boosted its holdings in shares of Spyre Therapeutics by 64.7% in the 3rd quarter. Barclays PLC now owns 105,467 shares of the company's stock worth $3,101,000 after purchasing an additional 41,424 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Spyre Therapeutics in the 4th quarter worth about $437,000. JPMorgan Chase & Co. boosted its holdings in shares of Spyre Therapeutics by 19.6% in the 4th quarter. JPMorgan Chase & Co. now owns 35,248 shares of the company's stock worth $821,000 after purchasing an additional 5,775 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Spyre Therapeutics in the 4th quarter worth about $6,241,000. Finally, First Trust Advisors LP purchased a new position in shares of Spyre Therapeutics in the 4th quarter worth about $548,000. 80.39% of the stock is currently owned by hedge funds and other institutional investors.
Spyre Therapeutics Company Profile
(
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).
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