Spyre Therapeutics (NASDAQ:SYRE) Stock Price Down 5.1%

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Stifel Nicolaus upped their price objective on Spyre Therapeutics from $36.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. Wells Fargo & Company upgraded shares of Spyre Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $12.00 to $35.00 in a report on Friday, March 1st. Finally, 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 objective on the stock. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $41.00.

Spyre Therapeutics Price Performance

The firm has a 50-day moving average of $36.44.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($2.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($1.80). As a group, research analysts forecast that Spyre Therapeutics, Inc. will post -2.36 EPS for the current year.

About Spyre Therapeutics

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).