Spyre Therapeutics (NASDAQ:SYRE) Shares Down 5%

Spyre Therapeutics, Inc. (NASDAQ:SYRE) traded down 5% during mid-day trading on Friday . The stock traded as low as $24.34 and last traded at $24.34. 150,997 shares traded hands during trading, a decline of 67% from the average session volume of 455,413 shares. The stock had previously closed at $25.63.

Analyst Ratings Changes

Several research analysts have recently commented on SYRE shares. BTIG Research lifted their target price on Spyre Therapeutics from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Wells Fargo & Company lifted their price objective on shares of Spyre Therapeutics from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Robert W. Baird started coverage on shares of Spyre Therapeutics in a report on Thursday, May 2nd. They set an “outperform” rating and a $50.00 target price on the stock. Finally, Stifel Nicolaus lifted their price target on shares of Spyre Therapeutics from $36.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $43.17.

Spyre Therapeutics Price Performance

The firm’s fifty day moving average price is $34.23 and its 200-day moving average price is $29.71. The company has a market cap of $970.75 million, a price-to-earnings ratio of -0.34 and a beta of 2.96.

Spyre Therapeutics (NASDAQ:SYRE) last posted its earnings results on Monday, May 13th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.30). As a group, equities analysts forecast that Spyre Therapeutics, Inc. will post -3.82 earnings per share for the current fiscal year.

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).