Spyre Therapeutics (NASDAQ:SYRE) Shares Down 6.4% – Should You Sell?

Spyre Therapeutics, Inc. (NASDAQ:SYRE) shares traded down 6.4% during mid-day trading on Tuesday . The company traded as low as $18.00 and last traded at $17.80. 153,785 shares were traded during trading, a decline of 72% from the average session volume of 547,764 shares. The stock had previously closed at $19.02.

Wall Street Analysts Forecast Growth

SYRE has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating and issued a $65.00 target price on shares of Spyre Therapeutics in a report on Monday, January 13th. Wolfe Research began coverage on shares of Spyre Therapeutics in a research report on Tuesday, March 18th. They set an “outperform” rating and a $27.00 price objective for the company. Finally, The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a report on Tuesday, February 18th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $50.86.

Spyre Therapeutics Trading Down 4.5 %

The stock has a market cap of $1.09 billion, a PE ratio of -2.43 and a beta of 2.98. The business has a 50-day moving average price of $20.80 and a 200 day moving average price of $25.86.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.08. On average, equities analysts predict that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Institutional Investors Weigh In On Spyre Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC boosted 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 valued at $3,101,000 after acquiring an additional 41,424 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in Spyre Therapeutics during the fourth quarter valued at about $290,000. Charles Schwab Investment Management Inc. lifted its position in Spyre Therapeutics by 239.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 333,275 shares of the company’s stock worth $9,802,000 after buying an additional 235,094 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Spyre Therapeutics by 78.7% in the 3rd quarter. Jane Street Group LLC now owns 20,641 shares of the company’s stock valued at $607,000 after purchasing an additional 9,090 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in Spyre Therapeutics during the fourth quarter valued at about $6,241,000. Institutional investors own 80.39% of the company’s stock.

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).