Spyre Therapeutics (NASDAQ:SYRE) Reaches New 1-Year Low – Here’s What Happened

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) reached a new 52-week low on Monday . The company traded as low as $11.60 and last traded at $11.68, with a volume of 17513 shares traded. The stock had previously closed at $12.79.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SYRE shares. Wolfe Research began coverage on Spyre Therapeutics in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $27.00 price target for the company. Wedbush reissued an “outperform” rating and set a $65.00 price target on shares of Spyre Therapeutics in a research report on Monday, January 13th. Finally, The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $50.33.

Spyre Therapeutics Stock Down 2.2 %

The company has a market cap of $753.94 million, a P/E ratio of -1.69 and a beta of 3.05. The company has a 50 day moving average price of $19.85 and a 200-day moving average price of $25.06.

Spyre Therapeutics (NASDAQ:SYRE) last announced its earnings results on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.08. On average, research analysts expect that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spyre Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of SYRE. Wellington Management Group LLP grew its position in Spyre Therapeutics by 6.5% in the fourth quarter. Wellington Management Group LLP now owns 1,604,508 shares of the company’s stock worth $37,353,000 after buying an additional 97,308 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Spyre Therapeutics by 32.1% in the 4th quarter. California State Teachers Retirement System now owns 32,598 shares of the company’s stock valued at $759,000 after purchasing an additional 7,923 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Spyre Therapeutics in the fourth quarter worth about $2,844,000. GF Fund Management CO. LTD. purchased a new position in shares of Spyre Therapeutics in the fourth quarter worth approximately $29,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Spyre Therapeutics by 85.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 48,981 shares of the company’s stock valued at $1,140,000 after acquiring an additional 22,540 shares in the last quarter. 80.39% of the stock is owned by institutional investors and hedge funds.

About Spyre Therapeutics

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).