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

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report)'s stock price hit a new 52-week low on Tuesday . The company traded as low as $20.25 and last traded at $20.09, with a volume of 133465 shares traded. The stock had previously closed at $21.26.Get Spyre Therapeutics alerts:Wall Street Analyst Weigh InA number of analysts recently commented on SYRE shares. Robert W. Baird lifted their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. The Goldman Sachs Group raised Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 18th. Finally, Wedbush restated an "outperform" rating and issued a $65.00 price target on shares of Spyre Therapeutics in a research note 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 company. According to MarketBeat.com, Spyre Therapeutics presently has a consensus rating of "Buy" and an average target price of $54.83.View Our Latest Report on SYRESpyre Therapeutics Trading Down 4.2 %The company has a 50-day moving average of $22.72 and a 200-day moving average of $26.97. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -2.72 and a beta of 2.85. Institutional Investors Weigh In On Spyre TherapeuticsA number of hedge funds have recently bought and sold shares of SYRE. Driehaus Capital Management LLC increased its stake in shares of Spyre Therapeutics by 308.1% in the 4th quarter. Driehaus Capital Management LLC now owns 2,803,655 shares of the company's stock valued at $65,269,000 after acquiring an additional 2,116,575 shares during the last quarter. FMR LLC lifted its position in shares of Spyre Therapeutics by 15.4% during the 4th quarter. FMR LLC now owns 8,801,266 shares of the company's stock worth $204,893,000 after buying an additional 1,177,385 shares during the last quarter. Jefferies Financial Group Inc. increased its holdings in Spyre Therapeutics by 167.6% in the 4th quarter. Jefferies Financial Group Inc. now owns 1,216,954 shares of the company's stock worth $28,331,000 after purchasing an additional 762,147 shares in the last quarter. Wellington Management Group LLP raised its holdings in Spyre Therapeutics by 89.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,507,200 shares of the company's stock worth $44,327,000 after purchasing an additional 711,254 shares during the last quarter. Finally, Boxer Capital Management LLC bought a new position in Spyre Therapeutics during the fourth quarter worth $10,864,000. 80.39% of the stock is currently owned by institutional investors. Spyre Therapeutics Company Profile (Get Free Report)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).Featured StoriesFive stocks we like better than Spyre TherapeuticsHow to Use High Beta Stocks to Maximize Your Investing ProfitsNVIDIA Stock: A Market Barometer in Tech’s Turbulent TimesBank Stocks - Best Bank Stocks to Invest InPalantir Stock Nears Bear Market Territory - Why and What’s Next?How to Effectively Use the MarketBeat Ratings ScreenerHome Depot Turns a Corner: New Highs Likely This YearThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Spyre Therapeutics Right Now?Before you consider Spyre Therapeutics, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Spyre Therapeutics wasn't on the list.While Spyre Therapeutics currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here