Spyre Therapeutics (NASDAQ:SYRE) Shares Down 5.1%

Spyre Therapeutics, Inc. (NASDAQ:SYRE) was down 5.1% during trading on Tuesday . The company traded as low as $33.95 and last traded at $33.95. Approximately 56,513 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 441,240 shares. The stock had previously closed at $35.77.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SYRE. Wells Fargo & Company raised shares of Spyre Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $12.00 to $35.00 in a research report on Friday, March 1st. Robert W. Baird assumed coverage on Spyre Therapeutics in a research report on Thursday, May 2nd. They set an “outperform” rating and a $50.00 price target on the stock. Finally, Stifel Nicolaus boosted their price objective on Spyre Therapeutics from $36.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $41.00.

Spyre Therapeutics Stock Down 4.3 %

The stock’s fifty day moving average is $36.44.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings results on Thursday, February 29th. The company reported ($2.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($1.80). On average, research analysts anticipate 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).