Spyre Therapeutics (NASDAQ:SYRE) Shares Down 5%

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) traded down 5% on Wednesday . The company traded as low as $32.38 and last traded at $32.54. 46,321 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 453,536 shares. The stock had previously closed at $34.25.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SYRE shares. Stifel Nicolaus boosted their price target on Spyre Therapeutics from $36.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Wells Fargo & Company upgraded shares of Spyre Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $12.00 to $35.00 in a report on Friday, March 1st. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Spyre Therapeutics currently has an average rating of “Buy” and an average target price of $39.20.

Spyre Therapeutics Price Performance

The company has a fifty day moving average of $34.30. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -0.43 and a beta of 2.88.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data on Thursday, February 29th. The company reported ($2.28) EPS for the quarter, missing the consensus estimate of ($0.48) by ($1.80). As a group, analysts expect that Spyre Therapeutics, Inc. will post -2.36 EPS for the current fiscal year.

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).