Spyre Therapeutics (NASDAQ:SYRE) Trading Up 4.5% – What’s Next?

Spyre Therapeutics, Inc. (NASDAQ:SYRE)’s stock price traded up 4.5% during mid-day trading on Thursday . The company traded as high as $33.95 and last traded at $33.83. 28,027 shares were traded during mid-day trading, a decline of 95% from the average session volume of 514,919 shares. The stock had previously closed at $32.37.

Analyst Upgrades and Downgrades

SYRE has been the topic of a number of analyst reports. Wedbush assumed coverage on shares of Spyre Therapeutics in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $45.00 price objective on the stock. Evercore ISI began coverage on shares of Spyre Therapeutics in a research note on Tuesday, July 16th. They issued an “outperform” rating for the company. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $43.43.

Spyre Therapeutics Stock Performance

The company has a market capitalization of $1.32 billion, a PE ratio of -0.46 and a beta of 2.92. The firm’s 50-day simple moving average is $28.25 and its 200 day simple moving average is $30.52.

Spyre Therapeutics (NASDAQ:SYRE) last announced 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. As a group, equities analysts anticipate that Spyre Therapeutics, Inc. will post -3.68 earnings per share for the current year.

Institutional Investors Weigh In On Spyre Therapeutics

Several institutional investors have recently modified their holdings of SYRE. Amalgamated Bank acquired a new position in Spyre Therapeutics during the second quarter worth $28,000. Quest Partners LLC purchased a new stake in shares of Spyre Therapeutics in the 2nd quarter worth about $36,000. SG Americas Securities LLC acquired a new stake in Spyre Therapeutics in the 2nd quarter valued at about $130,000. Carlyle Group Inc. purchased a new position in Spyre Therapeutics during the 2nd quarter valued at about $227,000. Finally, Profund Advisors LLC acquired a new position in Spyre Therapeutics during the second quarter worth about $296,000. Hedge funds and other 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).