Spyre Therapeutics (NASDAQ:SYRE) Trading Up 5.2% – Still a Buy?

Spyre Therapeutics, Inc. (NASDAQ:SYRE)’s stock price traded up 5.2% during trading on Thursday . The stock traded as high as $17.83 and last traded at $17.91. 127,940 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 548,511 shares. The stock had previously closed at $17.02.

Analyst Ratings Changes

A number of research firms have 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. Wolfe Research initiated coverage on Spyre Therapeutics in a research report on Tuesday, March 18th. They set an “outperform” rating and a $27.00 price objective on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $65.00 target price on shares of Spyre Therapeutics in a research report on Monday, January 13th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Spyre Therapeutics has a consensus rating of “Buy” and a consensus price target of $50.33.

Spyre Therapeutics Stock Performance

The company has a fifty day simple moving average of $20.54 and a 200 day simple moving average of $25.59. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -2.40 and a beta of 2.98.

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

Hedge Funds Weigh In On Spyre Therapeutics

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Spyre Therapeutics by 6.5% in the 4th quarter. Wellington Management Group LLP now owns 1,604,508 shares of the company’s stock worth $37,353,000 after acquiring an additional 97,308 shares in the last quarter. California State Teachers Retirement System grew its stake in Spyre Therapeutics by 32.1% during the fourth quarter. California State Teachers Retirement System now owns 32,598 shares of the company’s stock worth $759,000 after purchasing an additional 7,923 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Spyre Therapeutics during the fourth quarter worth approximately $2,844,000. GF Fund Management CO. LTD. bought a new stake in 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 stake in Spyre Therapeutics by 85.2% in the fourth 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 buying an additional 22,540 shares during the period. Institutional investors own 80.39% of the company’s stock.

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).