Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) was up 7.1% during mid-day trading on Tuesday . The stock traded as high as $16.52 and last traded at $16.49. Approximately 100,371 shares traded hands 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.
Analysts Set New Price Targets
Several research analysts have issued reports on SYRE shares. Wedbush reaffirmed an "outperform" rating and issued a $65.00 price target on shares of Spyre Therapeutics in a report on Monday, May 5th. Leerink Partnrs upgraded Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, April 8th. The Goldman Sachs Group upgraded Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, February 18th. Leerink Partners initiated coverage on Spyre Therapeutics in a report on Tuesday, April 8th. They issued an "outperform" rating and a $45.00 target price for the company. Finally, Wolfe Research initiated coverage on Spyre Therapeutics in a report on Tuesday, March 18th. They issued an "outperform" rating and a $27.00 target price for the company. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Spyre Therapeutics has an average rating of "Buy" and an average price target of $53.40.
Read Our Latest Stock Report on Spyre Therapeutics
Spyre Therapeutics Stock Up 0.6%
The business has a 50-day moving average of $14.20 and a 200-day moving average of $19.62. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -2.22 and a beta of 2.78.
Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.74) EPS for the quarter, topping analysts' consensus estimates of ($0.76) by $0.02. Equities analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.
Institutional Investors Weigh In On Spyre Therapeutics
Several institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC lifted its position in shares of Spyre Therapeutics by 64.7% in the third quarter. Barclays PLC now owns 105,467 shares of the company's stock worth $3,101,000 after buying an additional 41,424 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Spyre Therapeutics during the fourth quarter valued at approximately $437,000. JPMorgan Chase & Co. raised its position in shares of Spyre Therapeutics by 19.6% in the fourth quarter. JPMorgan Chase & Co. now owns 35,248 shares of the company's stock valued at $821,000 after purchasing an additional 5,775 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Spyre Therapeutics in the fourth quarter worth $6,241,000. Finally, First Trust Advisors LP bought a new position in Spyre Therapeutics in the 4th quarter worth $548,000. Institutional investors and hedge funds 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).
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