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

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

Analyst Ratings Changes

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

Spyre Therapeutics Price Performance

The company’s 50 day moving average price is $28.01 and its 200 day moving average price is $31.82. The firm has a market cap of $1.14 billion, a PE ratio of -0.42 and a beta of 2.92.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.86) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.04. Sell-side analysts expect that Spyre Therapeutics, Inc. will post -3.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYRE. Amalgamated Bank acquired a new position in Spyre Therapeutics during the 2nd quarter worth approximately $28,000. Quest Partners LLC acquired a new position in shares of Spyre Therapeutics in the 2nd quarter valued at $36,000. SG Americas Securities LLC acquired a new position in shares of Spyre Therapeutics in the 2nd quarter valued at $130,000. Carlyle Group Inc. purchased a new stake in Spyre Therapeutics in the 2nd quarter valued at $227,000. Finally, Profund Advisors LLC purchased a new stake in Spyre Therapeutics in the 2nd quarter valued at $296,000. Institutional investors and hedge funds 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).