Spyre Therapeutics (NASDAQ:SYRE) Stock Price Down 4.1%

Spyre Therapeutics, Inc. (NASDAQ:SYRE) shares fell 4.1% on Tuesday . The stock traded as low as $28.61 and last traded at $28.66. 155,824 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 515,146 shares. The stock had previously closed at $29.88.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SYRE. Evercore ISI began coverage on shares of Spyre Therapeutics in a research report on Tuesday, July 16th. They issued an “outperform” rating for the company. Wedbush assumed coverage on shares of Spyre Therapeutics in a research note on Wednesday, September 4th. They set an “outperform” rating and a $45.00 price objective for the company. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $43.43.

Spyre Therapeutics Trading Down 5.1 %

The firm’s fifty day moving average price is $28.01 and its 200 day moving average price is $31.82. The firm has a market capitalization of $1.14 billion, a PE ratio of -0.42 and a beta of 2.92.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.04. On average, analysts predict that Spyre Therapeutics, Inc. will post -3.68 earnings per share for the current year.

Institutional Trading of Spyre Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank purchased a new position in Spyre Therapeutics during the second quarter valued at $28,000. Quest Partners LLC acquired a new stake in Spyre Therapeutics during the second quarter worth about $36,000. SG Americas Securities LLC acquired a new stake in Spyre Therapeutics during the second quarter worth about $130,000. Carlyle Group Inc. acquired a new stake in Spyre Therapeutics during the second quarter worth about $227,000. Finally, Profund Advisors LLC acquired a new stake in Spyre Therapeutics during the second quarter worth about $296,000. 80.39% of the stock is owned by hedge funds and other institutional investors.

Spyre Therapeutics Company Profile

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).