Spyre Therapeutics, Inc. (NASDAQ:SYRE – Get Free Report)’s stock price dropped 3.5% on Wednesday . The company traded as low as $26.75 and last traded at $26.90. Approximately 32,118 shares traded hands during trading, a decline of 94% from the average daily volume of 515,864 shares. The stock had previously closed at $27.88.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on SYRE shares. Evercore ISI assumed coverage on Spyre Therapeutics in a research report on Tuesday, July 16th. They issued an “outperform” rating on the stock. Wedbush started coverage on Spyre Therapeutics in a report on Wednesday, September 4th. They issued an “outperform” rating and a $45.00 price objective for the company. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Spyre Therapeutics has a consensus rating of “Buy” and an average target price of $43.43.
Get Our Latest Analysis on Spyre Therapeutics
Spyre Therapeutics Stock Up 0.7 %
Spyre Therapeutics (NASDAQ:SYRE – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.86) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.04. As a group, sell-side analysts predict that Spyre Therapeutics, Inc. will post -3.68 EPS for the current year.
Institutional Investors Weigh In On Spyre Therapeutics
Large investors have recently made changes to their positions in the company. SG Americas Securities LLC increased its holdings in shares of Spyre Therapeutics by 127.0% during the 3rd quarter. SG Americas Securities LLC now owns 12,589 shares of the company’s stock valued at $370,000 after acquiring an additional 7,044 shares during the last quarter. Perceptive Advisors LLC grew its position in Spyre Therapeutics by 18.6% in the second quarter. Perceptive Advisors LLC now owns 3,031,018 shares of the company’s stock valued at $71,259,000 after acquiring an additional 474,339 shares during the period. Driehaus Capital Management LLC bought a new stake in shares of Spyre Therapeutics in the 2nd quarter worth about $16,153,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Spyre Therapeutics during the second quarter worth approximately $888,000. Finally, Darwin Global Management Ltd. acquired a new stake in Spyre Therapeutics during the 2nd quarter valued at $10,266,000. 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).
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