Spyre Therapeutics (NASDAQ:SYRE) Shares Gap Up – Should You Buy?

Spyre Therapeutics, Inc. (NASDAQ:SYRE)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $18.65, but opened at $19.58. Spyre Therapeutics shares last traded at $18.10, with a volume of 15,860 shares.

Analyst Ratings Changes

A number of research analysts have commented on SYRE shares. Robert W. Baird upped their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th. Finally, Wedbush reaffirmed an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a report on Monday, January 13th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $54.83.

Spyre Therapeutics Trading Down 4.4 %

The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -2.39 and a beta of 2.98. The stock’s 50-day moving average is $21.91 and its 200-day moving average is $26.55.

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

Hedge Funds Weigh In On Spyre Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYRE. GF Fund Management CO. LTD. bought a new position in Spyre Therapeutics during the 4th quarter worth approximately $29,000. Huntington National Bank bought a new stake in shares of Spyre Therapeutics during the 4th quarter valued at about $34,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Spyre Therapeutics during the fourth quarter worth approximately $46,000. Quest Partners LLC increased its holdings in Spyre Therapeutics by 271.2% in the third quarter. Quest Partners LLC now owns 5,654 shares of the company’s stock worth $166,000 after purchasing an additional 4,131 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Spyre Therapeutics in the fourth quarter valued at approximately $182,000. 80.39% of the stock is currently owned by institutional investors and hedge funds.

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).