Spyre Therapeutics (NASDAQ:SYRE) Reaches New 52-Week Low – Time to Sell?

Spyre Therapeutics, Inc. (NASDAQ:SYRE) reached a new 52-week low during trading on Tuesday . The stock traded as low as $16.13 and last traded at $16.14, with a volume of 740838 shares traded. The stock had previously closed at $17.94.

Analyst Ratings Changes

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

Spyre Therapeutics Stock Down 10.0 %

The firm has a market capitalization of $972.55 million, a PE ratio of -2.16 and a beta of 2.98. The stock’s fifty day simple moving average is $20.45 and its 200 day simple moving average is $25.47.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings data 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, analysts predict that Spyre Therapeutics, Inc. will post -4.46 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Barclays PLC increased its holdings in Spyre Therapeutics by 64.7% in the 3rd quarter. Barclays PLC now owns 105,467 shares of the company’s stock worth $3,101,000 after acquiring an additional 41,424 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of Spyre Therapeutics in the fourth quarter worth approximately $290,000. Charles Schwab Investment Management Inc. raised its position in shares of Spyre Therapeutics by 239.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 333,275 shares of the company’s stock valued at $9,802,000 after purchasing an additional 235,094 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Spyre Therapeutics during the 4th quarter valued at $6,241,000. Finally, Jane Street Group LLC boosted its holdings in Spyre Therapeutics by 78.7% in the 3rd quarter. Jane Street Group LLC now owns 20,641 shares of the company’s stock worth $607,000 after buying an additional 9,090 shares during the period. 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).