Spyre Therapeutics (NASDAQ:SYRE) Hits New 1-Year Low – Should You Sell?

Spyre Therapeutics, Inc. (NASDAQ:SYRE) hit a new 52-week low on Wednesday . The company traded as low as $16.93 and last traded at $17.02, with a volume of 647660 shares traded. The stock had previously closed at $18.16.

Wall Street Analyst Weigh In

A number of brokerages have commented on SYRE. Wedbush reiterated an “outperform” rating and issued a $65.00 target price on shares of Spyre Therapeutics in a report on Monday, January 13th. Wolfe Research initiated coverage on shares of Spyre Therapeutics in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $27.00 target price for the company. Finally, The Goldman Sachs Group raised Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 18th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $50.86.

Spyre Therapeutics Stock Down 6.3 %

The stock has a market cap of $1.03 billion, a PE ratio of -2.28 and a beta of 2.98. The business has a 50 day moving average price of $20.75 and a 200 day moving average price of $25.79.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.08. On average, research analysts predict that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYRE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Spyre Therapeutics by 4.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,741 shares of the company’s stock valued at $527,000 after purchasing an additional 916 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Spyre Therapeutics during the 4th quarter worth approximately $29,000. MetLife Investment Management LLC lifted its position in shares of Spyre Therapeutics by 6.2% during the 4th quarter. MetLife Investment Management LLC now owns 21,382 shares of the company’s stock valued at $498,000 after buying an additional 1,250 shares in the last quarter. Huntington National Bank purchased a new stake in Spyre Therapeutics in the 4th quarter worth $34,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Spyre Therapeutics during the fourth quarter worth $46,000. Hedge funds and other 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).