Spyre Therapeutics Inc. [SYRE] stock prices are up 7.80% to $40.89 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The SYRE shares have gain 16.93% over the last week, with a monthly amount glided 72.60%, and seem to be holding up well over a long-time horizon.
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On 1, March 2024, Spyre Therapeutics Announces Grants of Inducement Awards. In a post published today on Yahoo Finance, Spyre Therapeutics, Inc. (NASDAQ: SYRE) (the “Company” or “Spyre”), a development-stage biotechnology company advancing best-in-class antibody engineering, rational therapeutic combinations, and precision medicine approaches for the treatment of Inflammatory Bowel Disease (“IBD”), today announced that Spyre’s independent Compensation Committee of the Board of Directors approved the grants of stock options to purchase an aggregate of 166,200 shares of common stock of Spyre to four non-executive employees as equity inducement awards under the Spyre Therapeutics, Inc. 2018 Equity Inducement Plan, as amended (the “2018 Plan”). The stock options were approved on March 1, 2024 and were material to each employee’s acceptance of employment with Spyre, in accordance with Nasdaq Listing Rule 5635(c)(4).
From an analyst’s perspective:
Spyre Therapeutics Inc. [NASDAQ: SYRE] stock has seen the most recent analyst activity on March 01, 2024, when Wells Fargo upgraded its rating to a Overweight and also boosted its price target to $35 from $12. Previously, BTIG Research started tracking the stock with Buy rating on December 20, 2023, and set its price target to $32. On December 11, 2023, Jefferies initiated with a Buy rating and assigned a price target of $31 on the stock. Guggenheim started tracking the stock assigning a Buy rating and suggested a price target of $44 on December 11, 2023. Piper Sandler initiated its recommendation with a Overweight and recommended $12 as its price target on May 04, 2020. JP Morgan started tracking with a Overweight rating for this stock on March 21, 2019, and assigned it a price target of $14. In a note dated September 04, 2018, Wells Fargo downgraded an Market Perform rating on this stock.
The stock price of Spyre Therapeutics Inc. [SYRE] has been fluctuating between $2.66 and $41.09 over the past year. Spyre Therapeutics Inc. [NASDAQ: SYRE] shares were valued at $40.89 at the most recent close of the market.
Analyzing the SYRE fundamentals
The Spyre Therapeutics Inc. [NASDAQ:SYRE] reported sales of 0.89M for trailing twelve months, representing a drop of -100.00%.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 37.32 points at the first support level, and at 33.74 for the second support level. However, for the 1st resistance point, the stock is sitting at 43.08, and for the 2nd resistance point, it is at 45.26.
Spyre Therapeutics Inc. [SYRE] reported earnings per share of -$4.05 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.78/share, meaning a difference of -$3.27 and a surprise factor of -419.20%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$9.34 per share as compared to estimates of -$0.84 per share, a difference of -$8.5 representing a surprise of -1,011.90%.
Ratios To Look Out For
It’s worth pointing out that Spyre Therapeutics Inc. [NASDAQ:SYRE]’s Current Ratio is 10.68. On the other hand, the Quick Ratio is 10.68. Considering the valuation of this stock, the price to sales ratio is 1660.87.
