Spyre Therapeutics (NASDAQ:SYRE) Shares Down 5%

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on SYRE shares. Wells Fargo & Company upgraded Spyre Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $12.00 to $35.00 in a report on Friday, March 1st. Stifel Nicolaus lifted their target price 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. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $39.20.

Spyre Therapeutics Stock Down 3.7 %

The stock has a 50-day moving average price of $34.30. The firm has a market cap of $1.19 billion, a PE ratio of -0.43 and a beta of 2.88.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings results 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, equities analysts expect that Spyre Therapeutics, Inc. will post -2.36 earnings per share for the current 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).