Spyre Therapeutics (NASDAQ:SYRE) Shares Down 4.6%

Spyre Therapeutics, Inc. (NASDAQ:SYRE) dropped 4.6% on Tuesday . The company traded as low as $23.11 and last traded at $23.43. Approximately 190,279 shares traded hands during trading, a decline of 64% from the average daily volume of 524,961 shares. The stock had previously closed at $24.55.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Spyre Therapeutics from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, May 13th. BTIG Research increased their price target on shares of Spyre Therapeutics from $32.00 to $40.00 and gave the company a “buy” rating in a report on Friday, May 10th. Robert W. Baird assumed coverage on shares of Spyre Therapeutics in a report on Thursday, May 2nd. They set an “outperform” rating and a $50.00 price target on the stock. Finally, Stifel Nicolaus increased their price target on shares of Spyre Therapeutics from $36.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $43.17.

Spyre Therapeutics Price Performance

The company’s fifty day moving average is $32.61 and its 200-day moving average is $30.13.

Spyre Therapeutics (NASDAQ:SYRE) last issued its earnings results on Monday, May 13th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.30). As a group, analysts expect that Spyre Therapeutics, Inc. will post -3.82 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).