Spyre Therapeutics (NASDAQ:SYRE) Hits New 1-Year Low – Should You Sell?

Spyre Therapeutics, Inc. (NASDAQ:SYRE)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $16.13 and last traded at $16.14, with a volume of 740838 shares changing hands. The stock had previously closed at $17.94.

Analysts Set New Price Targets

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. The Goldman Sachs Group upgraded Spyre Therapeutics to a “strong-buy” rating in a report on Tuesday, February 18th. Finally, Wedbush restated an “outperform” rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research note on Monday, January 13th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Spyre Therapeutics presently has an average rating of “Buy” and an average price target of $50.33.

Spyre Therapeutics Trading Up 1.2 %

The firm has a market cap of $933.38 million, a price-to-earnings ratio of -2.07 and a beta of 2.98. The stock has a 50-day moving average of $20.19 and a 200-day moving average of $25.30.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly 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. As a group, 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

Hedge funds have recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new stake in Spyre Therapeutics in the 4th quarter valued at approximately $29,000. Huntington National Bank acquired a new position in shares of Spyre Therapeutics during the fourth quarter valued at $34,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Spyre Therapeutics during the fourth quarter valued at about $46,000. KLP Kapitalforvaltning AS acquired a new stake in Spyre Therapeutics in the fourth quarter worth about $182,000. Finally, Intech Investment Management LLC bought a new position in Spyre Therapeutics in the 3rd quarter valued at about $246,000. 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).