Spyre Therapeutics (NASDAQ:SYRE) Stock Price Up 4%

Spyre Therapeutics, Inc. (NASDAQ:SYRE) shares traded up 4% during trading on Wednesday . The company traded as high as $28.50 and last traded at $28.12. 41,273 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 524,131 shares. The stock had previously closed at $27.04.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. 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. Robert W. Baird initiated coverage on shares of Spyre Therapeutics in a research report on Thursday, May 2nd. They issued an “outperform” rating and a $50.00 price target for the company. Stifel Nicolaus raised their price objective on shares of Spyre Therapeutics from $36.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Finally, Wells Fargo & Company upped their target price on shares of Spyre Therapeutics from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $43.17.

Spyre Therapeutics Trading Up 5.4 %

The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -0.40 and a beta of 2.94. The firm’s 50 day simple moving average is $31.68 and its 200-day simple moving average is $30.52.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly 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, sell-side analysts forecast that Spyre Therapeutics, Inc. will post -3.82 EPS 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).