Spyre Therapeutics (NASDAQ:SYRE) Shares Down 6.7% – What’s Next?

Spyre Therapeutics, Inc. (NASDAQ:SYRE) shares fell 6.7% on Friday . The stock traded as low as $21.29 and last traded at $20.92. 91,521 shares changed hands during trading, a decline of 84% from the average session volume of 559,948 shares. The stock had previously closed at $22.41.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SYRE. The Goldman Sachs Group raised shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th. Wedbush reaffirmed an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a research note on Monday, January 13th. Finally, Robert W. Baird raised their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $54.83.

Spyre Therapeutics Trading Down 5.0 %

The firm has a market capitalization of $1.09 billion, a PE ratio of -2.85 and a beta of 2.85. The business’s 50 day simple moving average is $22.78 and its 200 day simple moving average is $26.98.

Hedge Funds Weigh In On Spyre Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new position in shares of Spyre Therapeutics in the 4th quarter worth $29,000. Huntington National Bank purchased a new position in shares of Spyre Therapeutics during the 4th quarter worth about $34,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Spyre Therapeutics during the 4th quarter worth about $46,000. Quest Partners LLC boosted its stake in shares of Spyre Therapeutics by 271.2% during the 3rd quarter. Quest Partners LLC now owns 5,654 shares of the company’s stock worth $166,000 after purchasing an additional 4,131 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Spyre Therapeutics during the 4th quarter worth about $182,000. 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).